what the new budget 2016 have for real estate

1) Ottawa is earmarking $500,000 for StatsCan to develop methods to gather data on foreign buyers of Canadian real estate.

2) The government is introducing a bail-in regime for the Canadian Banks in order to protect taxpayers from having to support a bank entering default.

3) The budget proposes $379 million over the next eight years for the Canadian Space Agency to extend its participation in the International Space Station.

4) Ottawa is extending the Mineral Exploration Tax Credit for Junior Exploration companies by one year. The tax credit was set to expire at the end of March 2016.

5) The government plans to increase the Canada Student Grant amounts by 50 per cent and is introducing a system that relies on a flat rate of contributions, as opposed to the current system of determining the amount granted based off student income and assets.

6) The budget allocates $40 million over the course of five years to implement the expected impact of climate change into building codes and design guides.

7) The government is looking for seniors’ benefits to keep pace with the increase in cost of living expenses by creating a Seniors Price Index. 

8) The government allocates $675 million over the next five years for the CBC in accordance with an accountability plan in a bid to support Canadian content.

9) $35 million is being set aside over the next five years to combat radicalization in Canadian communities. 

 

 

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Sunil Angrish

Sunil Angrish

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