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ARTICLE · 29 FEBRUARY 2008

2008 Federal Budget Commentary

McCarthy Tétrault
McCarthy Tétrault
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Finance Minister Jim Flaherty today tabled his third Federal Budget of the minority Conservative Government. It evidences a more restrained approach for the Government than its previous two budgets.

CanadaTax
Douglas Cannon
Douglas Cannon
Frédéric Harvey
Frédéric Harvey
Nigel Johnston
Nigel Johnston
Pierre Laflamme
Pierre Laflamme
Patrick McCay
Patrick McCay
Leonard Nesbitt
Leonard Nesbitt
Gwendolyn Watson
Gwendolyn Watson
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Finance Minister Jim Flaherty today tabled his third Federal Budget of the minority Conservative Government. It evidences a more restrained approach for the Government than its previous two budgets. There are some welcome initiatives in the Budget and an absence of measures that leave one puzzled about the policy choices made by the Government in proposing the particular measures.

While there are a multitude of proposed adjustments relating to capital cost allowance rates, various tax credits, and other sundry measures, the most significant Budget developments are the enhancements relating to scientific research & experimental development undertaken by Canadian-controlled private corporations and the creation of a new tax-efficient savings vehicle, the tax-free savings account that will be available to every adult Canadian.

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