Versatile Accounting has obtained a 15 page PDF document from The CPA which highlights all the main points of the 2019 federal budget. This PDF document goes through the following.
INTRODUCTION
PERSONAL INCOME TAX MEASURES
Canada Training Benefit
- Canada Training Credit
- Eligible Tuition and Other Fees
- EI Training Support Benefit
Making Canada Student Loans More Affordable
- Lower Interest Rates
- New Interest-Free Grace Period
Improving the Economic Security of Low-Income Seniors
Introducing the First-Time Home Buyer Incentive
Modernizing the Home Buyers’ Plan
- Withdrawal Limit
- Breakdown of a Marriage or Common-Law Partnership
Change in Use Rules for Multi-Unit Residential Properties
Permitting Additional Types of Annuities under Registered Plans
- Advanced Life Deferred Annuities
- Qualifying plans
- Limits
- Tax treatment on death
- Variable Payment Life Annuities
- Annuities fund
- Tax treatment on death
Employee Stock Options
Electronic Delivery of Requirements for Information
Tax Measures for Kinship Care Providers
- Canada Workers Benefit
- Tax Treatment of Financial Assistance Payments
Improvements to the Registered Disability Savings Plan
Donations of Cultural Property
Medical Expense Tax Credit
Contributions to a Specified Multi-Employer Plan for Older Members
Pensionable Service under an Individual Pension Plan
Mutual Funds: Allocation to Redeemers Methodology
- Deferral
- Character Conversion
Carrying on Business in a Tax-Free Savings Account
Making Zero-Emission Vehicles More Affordable
Personal Income Tax Credit for Digital Subscriptions
BUSINESS INCOME TAX MEASURES
Support for Canadian Journalism
- Qualified Canadian Journalism Organizations
- Qualified Donee Status
- Refundable Labour Tax Credit
Business Investment in Zero-Emission Vehicles
- Application and Phase-Out
Inter generational Business Transfers
Small Business Deduction – Farming and Fishing
Scientific Research and Experimental Development Program
Canadian-Belgian Co-productions – Canadian Film or Video Production Tax Credit
Character Conversion Transactions
Canada Training Credit
INTERNATIONAL TAXATION
Transfer Pricing Measures
- Order of Application of the Transfer Pricing Rules
- Applicable Reassessment Period
Foreign Affiliate Dumping
Cross-Border Share Lending Arrangements
- Canadian Shares
- Foreign Shares
SALES AND EXCISE TAX MEASURES
GST/HST Health Measures
- Human Ova and In vitro Embryos
- Foot Care Devices Supplied on the Order of a Podiatrist or Chiropodist
- Multidisciplinary Health Care Services
Cannabis Taxation
- New Classes of Cannabis Products
NOTICE TO USERS
The reproduction of the contents of this Federal budget summary is authorized without restriction.
As a Calgary accounting firm, we want to bring awareness and knowledge to our clients. So, go ahead and download this document to read at your leisure.
