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Last updated: December 17 2009
Public Opinion Wanted for 2010 Federal Budget
The Minister of Finance, The Honourable Jim Flaherty, has announced that consultations with Canadians will take place nationally in order that the country can be led into an economic recovery with the help of measures in the 2010 Federal Budget.
Flaherty plans to continue with the implementation of measures introduced through the Economic Action Plan introduced in January 2009.
Some of the items introduced under the Action Plan are:
- Income tax reductions put in place since April 2009
- Increased child benefits beginning mid 2009
- Availability of the Home Renovation Tax Credit of up to $1,350 for renovations completed by February 1, 2010
- Increased Working Income Tax Benefits of up to $925 per individual or $1,680 per couple for low income Canadians to access
- Increased small business deduction
- Increased capital cost allowances for specific purchases such as computers
Minister Flaherty advises "We would like to hear from Canadians on how best to implement the remaining stimulus measures in Canada's Economic Plan and to keep on track towards a stronger economic future.î The Government will be looking for answers to the following:
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To what level has your industry or community been impacted by measures provided by the Economic Action Plan?
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Do you have any suggestions for making the making the various programs more effective?
- Are there other steps that could be taken in order for the Canadian economy to remain competitive?
- Can you suggest a time period over which the Government can rebalance the budget?
The Federal Government will be holding consultations with Canadians across the nation, and in addition individuals can go on-line and and submit their views by linking here.
Educational Resource: For the latest budget information sign up now to Canada's leading online tax reference for taxpayers, financial advisors and their clients: EverGreen Explanatory Notes.
