2019 Federal Budget

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:

  1. Employee Stock Option changing (taxes)

  2. Home Buyers’ Plan Changes for RRSP limit and Plan Incentive

  3. Canadian Training Credit for working adults 25-65 years old

  4. Canada Student Loans – Lowering Interest Rates

  5. Change in use rules for Multi-Unit Residential Properties

  6. Canada Pension Plan and Guaranteed Income Supplement Changes

  7. Registered Disability Savings Plan updates

  8. Individual Pension Plans

  9. A new ALDA (Advanced Life Deferred Annuity) program

  10. Medical Expense Tax Credit expansion to Cannabis

  11. Zero-Emission Vehicle enhancement of Capital Cost Allowance for those cars

  12. More Support for Canadian Journalism

  13. Enhanced small business deduction for farmers and fishers

  14. 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.

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