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March 2017

Economic Unknowns To Play A Big Role In Federal Budget Plans

The Government Had To Prepare Budget Amid Uncertainty Over The Course Of Our Biggest Trading Partner The Trudeau government will chart the next segment of its mandate this week in what's expected to be a modest budget — but the omnipresent economic unknowns in the U.S. could eventually force Ottawa from a steady-as-she-goes course. For now, the stronger U.S. economy is benefiting Canada. Finance Minister Bill Morneau will present the country's budget Wednesday amid a brightening outlook, thanks in large part to the United States. In recent months, healthier Canadian numbers — from trade, to labour, to housing — have encouraged forecasters to...

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Six Things To Watch For In Canada’s 2017 Federal Budget

The federal government is betting big on investment in innovation, science and R&D. Here are some specific policies to watch for When the federal government dropped the budget last year, the Liberals put a big emphasis on helping Canada become more innovative. What that meant wasn’t exactly clear. On Wednesday, however, we might get an answer. The upcoming federal budget will likely include specifics, dollar amounts and details on how various initiatives under the government’s Innovation Agenda will roll out. Here’s what to watch for. 1. Investment In High-growth Companies The 2016 budget earmarked $800 million over the next four years for “cluster...

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A Baker’s Dozen Tax-filing Changes For This Year

Are you wondering how your tax return for 2016 might look different than in prior years? Here’s a summary of the key changes you’ll notice when preparing or reviewing your 2016 personal tax return. 1. Tax-rate changes The tax rate on income between $45,282 and $90,563 dropped to 20.5 per cent (from 22 per cent) for 2016. This will save you $680 federally if your income is over $90,563. On the flip side, any income over $200,000 will face a new tax bracket, resulting in an additional 4-per-cent tax. 2. Children’s fitness and arts amounts Sorry, but the tax credits for children’s fitness and...

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