Federal Budget 2017: Highlights, Part 2
Here are some more highlights of the Federal Budget 2017, recently tabled by Finance Minister Bill Morneau:
- Budget 2017 proposes to make available up to an additional $400 million through the Business Development Bank of Canada on a cash basis over three years for a new Venture Capital Catalyst Initiative that will increase late-stage venture capital available to Canadian entrepreneurs.
- In Budget 2017, the Government will invest $7 billion to support and create more high-quality, affordable child care spaces across the country.
- In Budget 2017, the Government will invest more than $11.2 billion in a range of initiatives designed to build, renew, and repair Canada’s stock of affordable housing.
- The Government will invest $2.9 billion in green infrastructure.
- The Government will invest $20 billion to support public transit projects across the country.
- The Government will invest an additional $523.9 million over five years to prevent tax evasion and improve tax compliance.
- The Government will replace the Caregiver Credit, Infirm Dependent Credit and Family Caregiver Credit with a single new credit: Canada Caregiver Credit.
- Budget 2017 introduces the new Education and Training Benefit for veterans, increased financial support for caregivers of ill and injured veterans and an option of pension for life through the Disability award.
- The Government will invest in Indigenous communities: $828.2 million over five years to improve health outcomes of First Nations and Inuit, $4 billion over 10 years for infrastructure in First Nations and Inuit communities and $225 million over 10 years to support housing for Indigenous Peoples not living on-reserve.
- Budget 2017 introduces the Uber tax, GST to be collected on ride-sharing services
- Budget 2017 proposes to cancel the Canada Savings Bond
- Budget 2017 proposes to eliminate the Transit Tax Credit.
Next week, we’ll look at the Personal and Business Income Tax Measures proposed in the Federal Budget 2017.
Source: www.budget.gc.ca, http://www.cbc.ca/news/politics/federal-budget-highlights-2017-1.4032898