TransX

A recent trend that has seen some company drivers incorporate themselves has stirred controversy in the trucking industry.

The article, linked below, from the Canadian Trucking Alliance clearly outlines the tax implications for those drivers. The CRA’s response to the Drivers Inc. movement is to classify them as PSB’s (Personal Service Businesses) and as such are ineligible for any small business deductions.

Please read the article, and review their attachments to gain full understanding of what incorporated drivers need to know in order to file their taxes this year in Canada.

MONTREAL and WINNIPEG, Oct. 30, 2018 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) today announced it has reached an agreement to acquire Winnipeg-based The TransX Group of Companies, one of Canada’s largest and oldest transportation companies.

“This strategic acquisition allows CN to deepen its supply chain focus, strengthening our exceptional franchise, including our intermodal business, notably the specialized, fast-growing refrigerated segment,” said JJ Ruest, president and chief executive officer of CN. “TransX has a 55-year history of providing innovative customer solutions in an industry that continues to evolve.

“This alignment creates a solid framework to serve a growing consumer economy with transportation options that bring more supply chain flexibility to our customers,” Ruest concluded.

Mike Jones, chief operating officer of The TransX Group of Companies, added, “CN’s acquisition solidifies our future as an industry-leading intermodal services provider in North America. We look forward to working with the CN team, which will allow us to continue building long-term customer confidence.”

TransX will continue to be based in Winnipeg and will operate independently.

“We thank Louie Tolaini, president and founder of The TransX Group of Companies, and his family for entrusting us with the reputation they built over the last six decades,” said Keith Reardon, CN’s senior vice-president of consumer products and supply chain growth. “CN has worked along side TransX for many years as a supply chain partner and we know the emphasis they place on the customer’s experience and on their commitment to safety. Understanding each other’s culture makes the opportunities of this acquisition exciting, and wide ranging.”

The terms of the deal were not disclosed and the acquisition is subject to regulatory review by Competition Bureau Canada and Canada’s Ministry of Transportation.

Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words.

Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company to be materially different from the outlook or any future results or performance implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements include, but are not limited to, the risk that the TransX transaction, which is subject to closing conditions including regulatory approvals, not be completed, as well risk factors such as the effects of general economic and business conditions; industry competition; inflation, currency and interest rate fluctuations; changes in fuel prices; legislative and/or regulatory developments; compliance with environmental laws and regulations; actions by regulators; increases in maintenance and operating costs; security threats; reliance on technology; trade restrictions; transportation of hazardous materials; various events which could disrupt operations, including natural events such as severe weather, droughts, fires, floods and earthquakes; climate change; labor negotiations and disruptions; environmental claims; uncertainties of investigations, proceedings or other types of claims and litigation; risks and liabilities arising from derailments; timing and completion of capital programs; and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to Management’s Discussion and Analysis (MD&A) in CN’s annual and interim reports, Annual Information Form and Form 40-F, filed with Canadian and U.S. securities regulators and available on CN’s website, for a description of major risk factors.

Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

CN is a true backbone of the economy whose team of approximately 26,000 railroaders transports more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network of approximately 20,000 route-miles spanning Canada and mid-America. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For more information about CN, visit the company’s website at www.cn.ca.

Contacts:
Media	Investment Community
Patrick Waldron	Paul Butcher
Senior Manager	Vice-President
Media Relations	Investor Relations
(514) 399-8803	(514) 399-0052

Your News

The Canada Revenue Agency (CRA) and Employment and Social Development Canada (ESDC) have clarified how they will treat the practice of so-called Driver Inc. by removing any grey area as it relates to the tax and labour status of incorporated drivers operating company vehicles.

The Driver Inc. model is based on commercial vehicle drivers, who do not own/lease or operate their own vehicle, becoming incorporated and receiving payment from their carrier with no source deductions. This practice opens the door to the possibility of widespread tax manipulation by those engaged in Driver Inc.

Read the full update on The Canadian Trucking Alliances website.

TransX is proud to announce that we will be joining the Manitoba Provincial Nominee Program staff in their Information and Employer engagement trip to Berlin, Germany from May 7th to May 11th.  TransX will be joining other Manitoba employers in conducting interviews with individuals who meet the candidate assessment criteria to move to and work in Manitoba.

Interested in working and living in Canada?

The Manitoba Provincial Nominee Program (MPNP) enables individuals who meet assessment criteria in certain areas (NOC codes) to connect with Manitoba employers who are recruiting. For more information about the program and the Information and Employer engagement trip, please visit the MPNP website.

TransX Group of Companies will be recruiting Long Haul Transport Drivers (NOC 7511) .

Assessment Criteria

If you are interested in living and working in Canada for the TransX Group of Companies, you must meet the following criteria to be eligible to take part in the MPNP program:

• Between 21 – 45 years of age
• Completion of secondary school Continue reading →