(November 2 – 15:00 ET) – The
Canadian Association of Insurance
and Financial Advisors and the
Conference for Advanced Life
Underwriting have released a
pre-budget submission to the
House of Commons Standing Committee
on Finance, which it will formally
submit November 18.

CAIFA and CALU are making a wide
range of recommendations in their
submission:

• increase the RRSP
contribution limit to $27,000
over five years in $2,700
increments;


• eliminate the 5%
high-income surtax;


• increase the defined
benefit pension limit up to
$3,000 per year of service over
five years.


• raise the foreign
content limit to 30% over five
years in 2 per cent increments;


• establish a definite
target for debt reduction by
budgeting for an annual surplus
equal to at least 25%, and
preferably 50%, of the fiscal
dividend;


• reduce the effective tax
rate on capital gains, toward the
previous 50% inclusion rate
(which would have a tax cost of
$675 million per year);


• Reintroduce full
indexation over a period of years,
and increase the basic personal exemptions;


• space the tax brackets
more evenly, such as 17%, 23%,
and 29%;


• reduce the tax
differential between Canada and
the United States;


• study high-income
taxpayer migration;


• focus its children’s
agenda on targeted tax cuts and on
encouraging private-public sector
partnerships.

-IE Staff

For more please see:


www.caifa.com