2012 Federal Budget Commentary
Friday, March 30th, 2012
2012 BUDGET OVERVIEW Federal Finance Minister Jim Flaherty tabled the government’s 2012 Budget in the House of Commons on Thursday, March 29. Leaving aside the government’s re-presentation of its pre-election 2011 Budget, it was the first Budget presented by a majority government in Canada since 2004, and the first by a Conservative majority government in [...]
Small businesses get a break
Thursday, December 8th, 2011
Hiring credit for small businesses In an effort to encourage new employment and support small businesses, the 2011 Federal budget has formed a one-time hiring credit for small businesses (HCSB). The HCSB is intended to provide businesses with some relief on the employer’s share of employment insurance (EI) premiums paid in 2011. If eligible, employers [...]
2011 Federal Budget Highlights
Wednesday, June 8th, 2011
June 8, 2011 Federal Budget Commentary BUDGET SUMMARY Federal Finance Minister Jim Flaherty re-tabled his Budget in the House of Commons this week. The budget is virtually unchanged from what was tabled in March, before the election. The Finance Minister described the Budget as “the next phase of Canada’s economic action plan” and one that [...]
2011 Federal Budget curtails flow-through charitable donation plans
Wednesday, March 23rd, 2011
Flow-through shares are issued by oil and gas, mining and renewable energy companies that renounce or “flow-through” their exploration and development expenses to investors. Investors deduct these expenses on their personal tax returns. A high-rate Ontario taxpayer will reduce their personal tax liability by 46.41% of these renounced expenditures. For tax purposes, a flow-through share’s [...]
Flaherty to present Federal Budget: March 22
Friday, March 11th, 2011
On March 2, 2011, Federal Finance Minister Jim Flaherty announced that the 2011-2012 federal budget will be tabled on March 22, 2011. The government is not planning any significant spending or taxation measures, according to Minister Flaherty. We will have our tax team reviewing the budget document that evening and we will provide an email to all Newsledger subscribers with our commentary on March 23.
