Working Income Tax Benefit for the working poor
Assistance for Canadian residents who are poorer after taking a job
- By: Stewart Lewis
- March 19, 2007 March 19, 2007
- 17:10
Assistance for Canadian residents who are poorer after taking a job
No broad-based personal or corporate tax cuts; RRSP age increases too slim
Electronic payment cards, consecutive weekly passes to be eligible
Increases spousal tax credit
But defence receives only $354 million in new spending
Additional pension benefits can be accrued while employee collects up to 60% of defined benefit pension
Call for common regulator, free-trade in securities grows louder
Extra year will encourage exploration and benefit flow-through share investors
Ottawa to increase transfers to provinces by $3.1 billion in 2007
$12.7 billion earmarked for new spending compared to only $9.7 billion for tax cuts
Change to 71 from 69 will benefit clients and advisors
Beleaguered IMETs to get senior expert advisor and $10-million increase
$400 million for technology to establish patient wait-times guarantees
Program modelled after RESPs
Federal government relies on new rules, better enforcement
Eliminates capital gains on donations
TSX jumps 182 points, Dow gains 116
Federal budget proposes to streamline qualification process
Rules would apply to notes sponsored by federally-regulated financial institutions
But federal budget provides few details of how it would help
Eliminates annual contribution limit and raises lifetime limit
Federal government also introduces green levy on gas guzzlers
Budget increases funding for post secondary education
Budget proposes increasing the lifetime capital gains exemption to $750,000
Maple bonds prove popular