Exclusive Content:

Home Office Blunder: Thousands of Deportation-Intended Migrants Missing Before Rwanda Flights

A recent revelation has cast a glaring spotlight on...

Taxes: here is the (large) amount of the advance that the tax authorities will pay you on Monday January 15

The end-of-year holidays have just ended and it is...

Weather: what will the weather be like in February, March and April?

At the start of 2024, the temperatures on the...

Federal budget | The one-time increase in the GST rebate would be extended

spot_img

A source says Tuesday’s federal budget will extend the temporary increase in the GST rebate for low-income Canadians, presenting the one-time benefit as support in the face of rising food prices.

The government source, who spoke on condition of anonymity to discuss matters that will not be public until Tuesday, said this budget will also include an increase in the withdrawal limit for a registered education savings plan, which will increase from $5000 to $8000.

These measures, which will be part of the federal government’s plan to fight inflation, were first reported by the CBC.

Thus, “grocery assistance” should not be tied to actual supermarket bills, but should instead be administered through the GST rebate system.

The New Democratic Party (NDP) had asked the Liberal government to extend this measure.

In advance of this budget, Finance Minister Chrystia Freeland has often promised targeted inflation-fighting measures for low-income Canadians.

“In the weeks ahead, for the Canadians who are feeling the bite of rising prices the most, for our most vulnerable friends and neighbors, our government will deliver additional, targeted inflation relief,” Ms. Freeland said Monday. last, in Oshawa, Ontario.

The planned GST rebate is intended to help low-income Canadians who experience a sudden increase in the cost of food at the grocery store. In February, prices in grocery stores were 10.6% higher than a year ago.

The Liberals should also outline their plans to tackle hidden or unexpected fees added to the price of goods and services.

In addition to helping reduce the cost of living, Minister Freeland signaled that the budget will include measures to keep Canada competitive as part of the “green economic transition”.

Several sources, to whom The Canadian Press granted anonymity because they were not authorized to speak publicly about the budget, said there will be “significant” new tax credits for the green economy. We are talking in particular about tax credits to stimulate growth in the production of critical ore and in the supply chain of electric vehicles.

The Liberals’ fall economic update had already promised tax credits for hydrogen and clean electricity generation.

Greater tax credits were promised to companies that pay fair wages and provide training for apprentices. Such incentives were inspired by the US Inflation Reduction Act and have never been used in Canada before.

But the Canadian government may well include such incentives in the future on most new tax credits promised for “green energy.”

Latest articles

Anne Hathaway Captivates in The Idea of You: A Deep Dive Film Analysis

Anne Hathaway's Compelling Performance: Delving into the Heart of "The Idea of You" Anne Hathaway's...

Nvidia and AMD Stocks React as Semiconductor Sector Faces Turbulence

The semiconductor market experienced significant fluctuations as Nvidia and AMD stocks reacted to industry...

Adrian Newey Announces Departure: Red Bull Racing Faces Transition in F1 Design Leadership

End of an Era: Adrian Newey Announces Departure from Red Bull Racing In a significant...

Home Office Blunder: Thousands of Deportation-Intended Migrants Missing Before Rwanda Flights

A recent revelation has cast a glaring spotlight on the Home Office, as it...

More like this

Home Office Blunder: Thousands of Deportation-Intended Migrants Missing Before Rwanda Flights

A recent revelation has cast a glaring spotlight on the Home Office, as it...

Taxes: here is the (large) amount of the advance that the tax authorities will pay you on Monday January 15

The end-of-year holidays have just ended and it is nice to benefit from an...

Weather: what will the weather be like in February, March and April?

At the start of 2024, the temperatures on the thermometer are enough to make...