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ARTICLE · 26 MARCH 2008

Ontario’s 2008 Budget Tabled

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Ontario’s Minister of Finance Dwight Duncan today tabled the Ontario provincial government’s third consecutive balanced budget, describing it as a "balance between quality public service and a competitive tax system".

CanadaTax
BLG'S National Tax Group
BLG'S National Tax Group
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Originally published March 25, 2008

Ontario’s Minister of Finance Dwight Duncan today tabled the Ontario provincial government’s third consecutive balanced budget, describing it as a "balance between quality public service and a competitive tax system". Highlights include: major investment in skills training and infrastructure; tax cuts for businesses, seniors, innovation and green initiatives; and an emphasis on expanding Ontario’s partnerships with aboriginals, business and the federal government.

The Minister announced $750 million in tax cuts for businesses over the next four years including a retroactive elimination of capital tax for manufacturing and resource firms, a ten year income tax exemption for companies commercializing innovations developed by Canadian colleges and universities, and an accelerated capital cost allowance rate for manufacturing and processing machinery. The

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