Holding the line on deficit reduction, and maintaining the
integrity of the tax system.
Like its predecessor, the 2013 Federal Budget is entitled
"Jobs, Growth, and Long-Term Prosperity." In his eighth
Budget, Finance Minister Jim Flaherty has tabled a document focused
on balancing the books, targeted spending, and fine-tuning the tax
rules.
Below, we have provided an overview of the significant tax
measures proposed in this year's Budget (Budget 2013). Please
contact us for additional information on any of these measures.
Introduction
Despite being challenged by lower-than-expected growth in the
Canadian economy, the government says it's on course to
eliminate the deficit and return to balanced budgets by 2015-16. It
projects a $25.9 billion deficit for 2012-13, an $18.7 billion
deficit in 2013-14, a $6.6 billion deficit for 2014-15, and a
surplus of $0.8 billion in 2015-16.
