On Tuesday, March 27, the Ontario Government introduced its 2012 Budget, which is entitled Strong Action for Ontario (the “Budget”). The Government also introduced Bill 55, the Strong Action for Ontario Act (Budget Measures), 2012 (“Bill 55”), omnibus legislation designed to implement a number of the proposals contained in the Budget. The Budget sets out…
Tag: Budget
Québec proposes stronger retirement income system
On March 17, 2011, the Québec government tabled its 2011-2012 Budget. The Budget proposed, among other things, to strengthen Québec’s retirement income system by: making adjustments to the Québec Pension Plan, as of January 1, 2012, to guarantee a new basic income to Québecers at retirement; and undertaking to implement new Voluntary Retirement Savings Plans…
Ontario Budget 2010 – Highlights for Employers
On March 25, 2010, the Ontario Government tabled Bill 16, Creating the Foundation for Jobs and Growth Act, 2010, omnibus legislation that will amend various statutes to give effect to initiatives outlined in its 2010 Budget – Open Ontario: Ontario’s Plan for Jobs and Growth (the “Budget”). This FTR Now provides a summary of those…
Federal Government Tables 2010 Budget
On March 4, 2010, the federal Minister of Finance, the Honourable Jim Flaherty, tabled the Government of Canada’s 2010 Budget (the “Budget”) in the House of Commons. The Budget represents the second phase of the Government’s “Economic Action Plan”, which was initiated in the 2009 Budget with a view to lifting the Canadian economy out…
Federal Budget 2009
INTRODUCTION Acknowledging that Canada is “passing through an extraordinary time”, including the twin threats of a global financial crisis and deepening economic recession, the federal Government tabled its 2009 budget (the “Budget”), “Canada’s Economic Action Plan”, in the House of Commons yesterday. The Budget is designed to improve access to financing, strengthen Canada’s financial system,…
Ontario Budget 2008
INTRODUCTION Amid growing economic uncertainty, the Honourable Dwight Duncan, Ontario’s Minister of Finance, tabled the 2008 Ontario Budget, “Growing a Stronger Ontario” before the Ontario Legislature on March 25, 2008. A possible U.S. recession, a Canadian dollar hovering near parity with the U.S. greenback, soaring energy and resource costs, and relentless competition from overseas have…
Federal Budget 2008
IN THIS ISSUE: Tax-Assisted Savings and Retirement Initiatives Tax-Free Savings Accounts Life Income Funds (LIF) Registered Education Savings Plans (RESP) Registered Disability Savings Program (RDSP) Guaranteed Income Supplement (GIS) Employment Insurance Reform Benefits Motor Vehicle Expenses Medical Expense Tax Credit (METC) Application of GST/HST to Health Care Services and Products Continued Support for Common Securities…