Ottawa, ON – Today, the Honourable Joe Oliver, Minister of Finance, presented the 2015 budget of the Federal Government in the House of Commons. Larry Miller, MP for Bruce-Grey-Owen Sound, welcomes a balanced budget with many measures to support Canadians.

Highlights of the 2015 Economic Action Plan include:

  • A surplus of $1.4 billion in 2015-2016 with subsequent surpluses for years to come;
  • Increasing the contribution limit for theTax Free Savings Account to $10,000;
  • Measures to enhance the Canadian manufacturing sector;
  • Measures to help small businesses including reducing the small business tax rate from 11 per cent to 9 percent by 2019;
  • Increasing the Lifetime Capital Gains Exemption to $1 million for owners of farm and fishing businesses;
  • Measures to support apprentices;
  • Support for seniors including reducing the minimum withdrawal factors for Registered Retirement Income Funds and the creation of a Home Accessibility Tax Credit;
  • Extending Employment Insurance Compassionate Care Benefits from six weeks to six months for those who are caring for gravely ill family members;
  • And more.

“I am very pleased to see that the Federal Government has presented a budget that is balanced and also provides tax breaks and spends where spending is needed,” said Miller. “There are a number of measures that will support residents in Bruce and Grey counties and indeed all Canadians.”

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Source: Press Release


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