Hi, Guest
FEDERAL BUDGET HIGHLIGHTS
- Lowest income-tax rate rises half a percentage point to 15.5 per cent effective July 1.
- GST cut by one percentage point to six per cent starting July 1.
- Corporate income-tax rate drops to 19 per cent from 21 per cent by 2010; federal capital tax eliminated retroactive to Jan. 1; corporate surtax gone as of Jan. 1, 2008.
- 12 per cent small-business tax rate drops to 11 per cent by 2009.
- Taxable $100 monthly allowance for each child under age six.
- Tax credits for textbooks, transit passes, tools and youth sport.
- $500 million boost in aid for agriculture this year, plus a $1-billion transition fund for farmers.
- $1.4 billion more this year for policing, border security and public safety.
- $1.1 billion extra over two years for the military.
- Climate-change spending drops to $2 billion over five years for a "Made in Canada" program. Extra cash promised by the
former Liberal government to be "reallocated."
- Up to $3.3 billion in new funding to provinces to address short-term needs.
- $5.5 billion over four years for a highways and border infrastructure fund.
- $1 billion over five years for pandemic preparedness.
- $450 million extra for native housing, education, water and families. No mention of the $5 billion promised by the former Liberal government under the Kelowna aboriginal accord.
- $3 billion a year committed to paying down the debt, currently estimated at $486 billion.
So, in short:
We'll have a better military to clean up after the USA with. Great :rolleyes: Hopefully we remain the world-renowned peacekeepers that we are, and not an extension of US policy via "jumping the UN gun" syndrome.
The lowest income bracket gets taxed more. Those people need every penny they make... why take more away?
The $100/child/month is TAXABLE. HAHAHAHHAHAA. That's all I have to say to that. Suckered. The "old" system of government-run funding to subsidized daycare was much better, because at least the money was being used for the purpose it was intended in its entirety!
Small business gets a break. Good. Small businesses are a vital part of our economy, creating jobs and filling niche market spots that big box / big name businesses won't touch.
Paying down the debt - GOOD THING. Well, at least there's a single ray of sunshine. The rest is spinster padding and fluff.
My source: http://www.nugget.ca/webapp/sitepages/cont...=News+%2D+Local
Corporate taxes dropping 2% - good thing. We're taxed to death in this country, as both business people and everyday employed Canadians.
GST drops 1% - I'd rather have more cash on my paycheque to reroute to RRSPs and other pension-related savings plans. It'll cost me $1 less on a $100 purchase. So I'll realize a $1000 savings after spending $100,000. Great. Less income tax or better structure to the RRSP-eligible funds please!
Also, no mention of Harper's capping of the fuel tax. They'll just ride the increasing pump prices as the cash cow to the future.
- Lowest income-tax rate rises half a percentage point to 15.5 per cent effective July 1.
- GST cut by one percentage point to six per cent starting July 1.
- Corporate income-tax rate drops to 19 per cent from 21 per cent by 2010; federal capital tax eliminated retroactive to Jan. 1; corporate surtax gone as of Jan. 1, 2008.
- 12 per cent small-business tax rate drops to 11 per cent by 2009.
- Taxable $100 monthly allowance for each child under age six.
- Tax credits for textbooks, transit passes, tools and youth sport.
- $500 million boost in aid for agriculture this year, plus a $1-billion transition fund for farmers.
- $1.4 billion more this year for policing, border security and public safety.
- $1.1 billion extra over two years for the military.
- Climate-change spending drops to $2 billion over five years for a "Made in Canada" program. Extra cash promised by the
former Liberal government to be "reallocated."
- Up to $3.3 billion in new funding to provinces to address short-term needs.
- $5.5 billion over four years for a highways and border infrastructure fund.
- $1 billion over five years for pandemic preparedness.
- $450 million extra for native housing, education, water and families. No mention of the $5 billion promised by the former Liberal government under the Kelowna aboriginal accord.
- $3 billion a year committed to paying down the debt, currently estimated at $486 billion.
So, in short:
We'll have a better military to clean up after the USA with. Great :rolleyes: Hopefully we remain the world-renowned peacekeepers that we are, and not an extension of US policy via "jumping the UN gun" syndrome.
The lowest income bracket gets taxed more. Those people need every penny they make... why take more away?
The $100/child/month is TAXABLE. HAHAHAHHAHAA. That's all I have to say to that. Suckered. The "old" system of government-run funding to subsidized daycare was much better, because at least the money was being used for the purpose it was intended in its entirety!
Small business gets a break. Good. Small businesses are a vital part of our economy, creating jobs and filling niche market spots that big box / big name businesses won't touch.
Paying down the debt - GOOD THING. Well, at least there's a single ray of sunshine. The rest is spinster padding and fluff.
My source: http://www.nugget.ca/webapp/sitepages/cont...=News+%2D+Local
Corporate taxes dropping 2% - good thing. We're taxed to death in this country, as both business people and everyday employed Canadians.
GST drops 1% - I'd rather have more cash on my paycheque to reroute to RRSPs and other pension-related savings plans. It'll cost me $1 less on a $100 purchase. So I'll realize a $1000 savings after spending $100,000. Great. Less income tax or better structure to the RRSP-eligible funds please!
Also, no mention of Harper's capping of the fuel tax. They'll just ride the increasing pump prices as the cash cow to the future.
Daily driver 1: 2007 Jeep Wrangler Unlimited Sport "S"
33" BFG Mud-Terrain KM2s, lots of Rough Country gear - bumper, 2.5" lift, swaybar disconnects, Superwinch 10,000lb winch, Detroit Locker in rear D44 axle, custom exhaust, K+N filtercharger, Superchips-tuned.
Daily driver 2: 2006 Subaru Legacy GT
COBB Stage 1+ package - AccessPort tuner, COBB intake and airbox. Stage 2 coming shortly - COBB 3" AT stainless DP and race cat, custom 3" Magnaflow-based exhaust and Stage 2 COBB tune.
33" BFG Mud-Terrain KM2s, lots of Rough Country gear - bumper, 2.5" lift, swaybar disconnects, Superwinch 10,000lb winch, Detroit Locker in rear D44 axle, custom exhaust, K+N filtercharger, Superchips-tuned.
Daily driver 2: 2006 Subaru Legacy GT
COBB Stage 1+ package - AccessPort tuner, COBB intake and airbox. Stage 2 coming shortly - COBB 3" AT stainless DP and race cat, custom 3" Magnaflow-based exhaust and Stage 2 COBB tune.