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.
For more information click here.