Blog by Rob Chuter

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The Federal Budget

Highlights include:
  • A Tax-Free Saving Account (TFSA) that lets Canadians age 18+ contribute up to $5,000 a year starting in 2009. Contributions are not tax-deductible; income earned is not taxable.
  • $110 million to the Mental Health Commission of Canada to support homelessness projects. Vancouver, Winnipeg, Toronto, Montreal and Moncton will share this amount.
  • $250 million over five years to the automotive sector to develop fuel-efficient vehicles. To help fund this initiative, the government cancelled its rebate program that offered $2,000 to buyers of energy-efficient vehicles.
  • $500 million in support of capital investments to improve public transit.
  • Making permanent the Gas Tax Fund, worth $2 billion in 2009/10, permanent, so municipalities can better plan and finance long-term infrastructure needs.
  • Establishing a Crown corporation, PPP Canada Inc., to support public-private partnerships.

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