Budget shocker: No more writing off botox
- By: Jamie Golombek
- March 5, 2010 January 21, 2018
- 07:42
Fiscal stimulus program remains basically unchanged
Similar regimes in use in the U.S., Britain and Quebec
Feds also promise to turn focus toward balancing the budget once the economy has fully recovered: Budget overview
The government is proposing rules to prevent the practice of people escaping taxation both at the corporate and personal levels (IE:TV)
Independent task force to conduct a comprehensive review of the payments system
One key focus is on helping young Canadians, who have been hit particularly hard by the recession, get to work
Simplified rules intended to better target aggressive offshore tax planning schemes
Government promises end to “negative-option billing” in the financial sector
One of the measures proposes to allow a 10-year carry forward of Canada Disability Savings Grant and Canada Disability Savings Bond entitlements (IE:TV)
But the government has not hiked RRSP contribution limits, expanded the utility of TFSAs, or postponed the RRIF conversion deadline, as some had hoped
Changes to Universal Child Care Benefit and others would be payable commencing July 2011
TD Bank provides lift as earnings beat forecasts
Certain tax measures were introduced to encourage people to spend on green energy
Growth without stagnation or recession will be needed to balance the federal government’s books (IE:TV)
Deficit of $49.2 billion
First U.S. Treasury index to be rebalanced daily
Value of residential permits up 4.1%
Oil, gold head lower
N.Y. weak despite data
Growth in Canada expected to remain much stronger than south of the border