Budget 2008: The Highlights
April 08, 2008
  • Tax-Free Savings Account with an annual contribution limit of $5,000 to help Canadians save.
  • A further $1 billion in support for manufacturers and processors by extending accelerated CCA treatment by 3 years on a declining basis.
  • Delivering on the Tax Back Guarantee by dedicating $2 billion in annual interest savings by 2009-10 to personal income tax reductions.
  • Extending federal gas tax funding to municipalities, permanently providing an additional $2 billion a year for essential infrastructure.
  • Making the Scientific Research and Experimental Development (SR&ED) more accessible for small and medium-sized businesses.
  • Reducing the tax compliance burden on small business
  • One-year extension of the Mineral Exploration Tax Credit.

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