Conservatives offer billions in tax cuts and incentives in newly reworked budget
Well Steven Harper and his minority Conservative Government announced billions in tax credits for Canadians today! Finance Minister Jim Flaherty gave Canadians some good news as he went over the Federal Government's plan to kick start the stalled out economy. The proposed tax cuts and relief are aimed at getting consumer spending back up and instilling some confidence in the future.
Home owners looking to do some much needed renovations have a little more incentive as the government has promised up to $1,350 in tax credits for home improvements between $1,000 and $10,000 made between Jan. 27, 2009, and Feb. 1, 2010. Perhaps, the best news of the day was the changes to raise the upper limits on the two lowest income tax brackets. The new tax ceiling for the 15 percent bracket would be $40,726, while the new tax ceiling for the 22 percent bracket would change to $81,452.
It is a good start but with a minority government currently in power this is far from a done deal. At any time the official opposition parties could push for a non-confidence vote and force Canadians back to the voting poles. Over the next couple of days we should see exactly where the opposition parties stand on the new proposed federal budget for 2009. Full CBC News Story
Sincerely,
Jason Neumann
Posted by Jason Neumann
on January 27, 2009