The 2019 Federal Budget came out yesterday!
It is always interesting to see the types of changes that the Federal Governments make each year. Attached is a summary of those changes.
Here is a list of the highlights for your reference:
Employee Stock Option changing (taxes)
Home Buyers’ Plan Changes for RRSP limit and Plan Incentive
Canadian Training Credit for working adults 25-65 years old
Canada Student Loans – Lowering Interest Rates
Change in use rules for Multi-Unit Residential Properties
Canada Pension Plan and Guaranteed Income Supplement Changes
Registered Disability Savings Plan updates
Individual Pension Plans
A new ALDA (Advanced Life Deferred Annuity) program
Medical Expense Tax Credit expansion to Cannabis
Zero-Emission Vehicle enhancement of Capital Cost Allowance for those cars
More Support for Canadian Journalism
Enhanced small business deduction for farmers and fishers
Enhancement in the Scientific Research and Development Program
If you have any questions or concerns in regarding the budget changes, please don’t hesitate to e-mail me or call me. If you would like to review your financial plan or if any changes have taken place recently, please let me know and we can have a meeting.