The Canadian economy was impacted in 2008 by the global economic crisis. Canadian stock markets and the Canadian dollar experienced severe volatility, influenced by swings in commodity prices (including particularly the price of oil). Canada’s economic growth has also stalled (due in part to Canada’s dependence on the ailing US auto industry but also to the fact that key exports from Canada are sensitive to the impact of reduced consumer demand in the US and globally).

type Tax Law Bulletin - January 2009 - Canada Tax: 2008 In Review