[闲聊] Budget 2005
- 主题发起人 笑傲江湖
- 开始时间
Tax Measures
Personal income tax measures
Basic personal amount to increase to $10,000 by 2009
$100 in each of 2006 and 2007, then $400 in 2008, and the greater of $600 or the amount to bring the limit to $10,000 in 2009
RRSP changes
RRSP limits to rise by about $1,000 in 2007, with no change to the 18 per cent contribution limit
2007 will go from an indexed $18,000 to $19,000, and then $1,000 per year up to $22,000 by 2010
Foreign content rules to be eliminated in 2005
Gold bullion added as a qualifying investment
RESPs
Time limits extended for people with disabilities
Children with disabilities
Child disability benefit increased from $1,681 to $2,000 for 2005 ? 06 for low-income families
Medical expenses
Several new expenditures, including medical marijuana have been added
New rules for home renovations
Caregivers
The maximum amount of medical and disability-related expenses that caregivers can claim on behalf of their disabled dependents is doubling, from $5,000 to $10,000 effective this year
Adoption expense costs
Non-refundable tax credit to be introduced for eligible adoption expenses
Claimable in the year in which the adoption is approved
Maximum of $10,000, including expenses from when the adoption file was opened
Automobile standby charges
Emergency medical services vehicles now excluded (as are ambulances, fire trucks, and police cars)
EMS vehicles include clearly marked vehicles designed to carry paramedics and their emergency medical equipment
Patronage dividends
Share dividends (paid in shares) of eligible agricultural cooperatives will no longer be taxable when issued, but will be taxable when the shares are sold
http://www.cga-canada.org/budget2005/measures.htm
Personal income tax measures
Basic personal amount to increase to $10,000 by 2009
$100 in each of 2006 and 2007, then $400 in 2008, and the greater of $600 or the amount to bring the limit to $10,000 in 2009
RRSP changes
RRSP limits to rise by about $1,000 in 2007, with no change to the 18 per cent contribution limit
2007 will go from an indexed $18,000 to $19,000, and then $1,000 per year up to $22,000 by 2010
Foreign content rules to be eliminated in 2005
Gold bullion added as a qualifying investment
RESPs
Time limits extended for people with disabilities
Children with disabilities
Child disability benefit increased from $1,681 to $2,000 for 2005 ? 06 for low-income families
Medical expenses
Several new expenditures, including medical marijuana have been added
New rules for home renovations
Caregivers
The maximum amount of medical and disability-related expenses that caregivers can claim on behalf of their disabled dependents is doubling, from $5,000 to $10,000 effective this year
Adoption expense costs
Non-refundable tax credit to be introduced for eligible adoption expenses
Claimable in the year in which the adoption is approved
Maximum of $10,000, including expenses from when the adoption file was opened
Automobile standby charges
Emergency medical services vehicles now excluded (as are ambulances, fire trucks, and police cars)
EMS vehicles include clearly marked vehicles designed to carry paramedics and their emergency medical equipment
Patronage dividends
Share dividends (paid in shares) of eligible agricultural cooperatives will no longer be taxable when issued, but will be taxable when the shares are sold
http://www.cga-canada.org/budget2005/measures.htm
Budget Highlights
In 2005, economic activity in Canada is expected to increase and the GDP growth is projected to be 2.9 per cent. For 2006, economic growth is expected to be 3.1 per cent.
The federal government projects balanced budgets or better in 2004 ? 05, and balanced budgets or better for each of the next five years.
The federal debt-to-GDP ratio for 2004 ? 05 is projected to fall to 38.8 per cent, down from 68.4 per cent in 1995 ? 96. The government’s objective is to reduce the federal debt-to-GDP ratio to 25 per cent by 2014 ? 15.
Program expenses are expected to grow by 11.9 per cent in 2004 ? 05.
The government’s Cabinet Committee on Expenditure Review identified almost $11 billion to be reinvested.
The federal government will provide $5 billion over the next five years to start building a framework for an Early Learning
and Child Care initiative with the provinces and territories.
Canada’s cities and communities will receive a share of the federal gas tax revenues. Effective 2005 ? 06, the government will provide $600 million increasing to $2 billion, equivalent to 5 cents per litre of gas tax revenues by 2009 ? 10.
The federal government introduced a $5 billion package of measures to be spent over the next five years to support sustainable, or green, economy.
The Canadian Forces will increase by 5,000 troops and 3,000 reserves.
Direct investments in health care will total $805 million over five years, and will go towards health human resources, health promotion, and illness-prevention initiatives.
Monthly benefits under the Guaranteed Income Supplement (GIS) benefit for low-income seniors will rise by $36 for singles and $58 for couples by January 2007.
http://www.cga-canada.org/budget2005/highlights.htm
In 2005, economic activity in Canada is expected to increase and the GDP growth is projected to be 2.9 per cent. For 2006, economic growth is expected to be 3.1 per cent.
The federal government projects balanced budgets or better in 2004 ? 05, and balanced budgets or better for each of the next five years.
The federal debt-to-GDP ratio for 2004 ? 05 is projected to fall to 38.8 per cent, down from 68.4 per cent in 1995 ? 96. The government’s objective is to reduce the federal debt-to-GDP ratio to 25 per cent by 2014 ? 15.
Program expenses are expected to grow by 11.9 per cent in 2004 ? 05.
The government’s Cabinet Committee on Expenditure Review identified almost $11 billion to be reinvested.
The federal government will provide $5 billion over the next five years to start building a framework for an Early Learning
and Child Care initiative with the provinces and territories.
Canada’s cities and communities will receive a share of the federal gas tax revenues. Effective 2005 ? 06, the government will provide $600 million increasing to $2 billion, equivalent to 5 cents per litre of gas tax revenues by 2009 ? 10.
The federal government introduced a $5 billion package of measures to be spent over the next five years to support sustainable, or green, economy.
The Canadian Forces will increase by 5,000 troops and 3,000 reserves.
Direct investments in health care will total $805 million over five years, and will go towards health human resources, health promotion, and illness-prevention initiatives.
Monthly benefits under the Guaranteed Income Supplement (GIS) benefit for low-income seniors will rise by $36 for singles and $58 for couples by January 2007.
http://www.cga-canada.org/budget2005/highlights.htm
How many people make 100K each year?
RRSP limits to rise by about $1,000 in 2007, with no change to the 18 per cent contribution limit 2007 will go from an indexed $18,000 to $19,000, and then $1,000 per year up to $22,000 by 2010.
100,000 x 18% = 18000.
RRSP limits to rise by about $1,000 in 2007, with no change to the 18 per cent contribution limit 2007 will go from an indexed $18,000 to $19,000, and then $1,000 per year up to $22,000 by 2010.
100,000 x 18% = 18000.
