Federal budget 2019
"Investing in the Middle Class"
On March 19, 2019, Finance Minister Bill Morneau announced the Liberal Government’s fourth federal budget plan, “Investing in the Middle Class.” The plan pledges continued focus on supporting middle-class Canadians, which is reflected in several of the individual tax measures. These expand existing programs to encourage first-time homebuyers and continuing education, as well as providing additional retirement income support for seniors. The plan also provides tightening of income tax measures that are perceived to provide advantages for high-income executives and entrepreneurs.
In this budget:
- Expanded rules to assist first-time home buyers
- Restrictions on the preferential tax treatment of employee stock options
- Less restrictive rules for Registered Disability Savings Plan (RDSP) holders who no longer qualify for the Disability Tax Credit (DTC)
- Proactive Canada Pension Plan (CPP) enrolment for seniors over age 70
- New annuity payment options for retirees
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