Thumbs Down on Federal Budget

“Do you believe the November 4 Federal Budget addressed the key financial issues your clients need to see from their Finance Department and the CRA?”  That’s the question we asked Knowledge Bureau Report readers last month.   Over 86% of the respondents said the government got it wrong.    Some comments about what was missing below.  Also, now’s the time to weigh in on the final poll question for 2025. 

Michelle was disappointed for our rural citizens:  “For farmers it was nothing, although they said they were increasing the payment you could get from Agristability.  Most grain farmers who are taking the brunt of the Chinese tariffs opted out of this program years ago, as its hard to trigger any money out of it. Not only do they pay a fee to the government but also to their accountant to only get nothing.

Editorial Note:   Also missing:

Inflation–busters for Seniors.  The Government could have increased the  Age Amount for seniors to help people on fixed incomes cope with rising costs.   It’s also time to index the pension income amount.

Inflation-busters for Those with Tax Debt.  It would be great to stop the interest clock for low income earners with tax debt. That would allow them to regain access to their government benefits sooner, too.

Inflation-busters for Rising Medical Costs.  It’s time for the medical expense limitation to be eliminated so that more people can make a full claim for their medical expenses.

Final word goes to Gatean:  Unfortunately this budget was more smoke and mirrors from the Liberals.    Look at the 70% increase in bureaucrats - and seeing poorer service for a much higher cost to the taxpayer.    The CRA policies added more draconian penalties for new and obscure reporting requirements from taxpayers and small businesses. 

Thanks for weighing in.  This month’s poll is the following:

It costs a lot more to go to work these days.  Should the Canada Employment Credit of $1501 for 2026 be raised higher to account for this?

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