Budget Scorecard 

• Increasing the basic personal amount
• Raising the upper limit of the two lowest personal income tax brackets by 7.5 per cent above the 2008 levels
• Increasing the amount that low- and middle-income families can earn before their federal child benefits are phased out
• Investing $580 million to double the tax relief provided by the Working Income Tax Benefit
• Increasing the Age Credit amount by $1,000

Budget 2009 includes measures to position Canada’s economy for long-term recovery by:

• Introducing a two-year, 100 per cent CCA rate for investment in computers
• Extending the temporary 50 per cent straight-line accelerated CCA rate to investment in manufacturing or processing machinery and equipment undertaken in 2010 and 2011

Under the Extraordinary Financing Framework, the government is providing up to $200 billion in existing and new measures. This includes:

• An additional $50 billion for the Insured Mortgage Purchase Program, increasing its size to $125 billion
• $13 billion to increase the lending of Crown Corporations, such as Export Development Canada (EDC) and the Business Development Bank of Canada (BDC). At least $5 billion of this incremental financing will be delivered through the new Business Credit Availability Program
• An increase in the loan limit for small businesses under the Canada Small Business Financing Program
• $12 billion for a new Canadian Secured Credit Facility to help consumers and businesses access financing to vehicles and equipment

Increase to $500,000 the amount of small business income eligible for the reduced federal tax rate of 11 per cent, effective January 1, 2009

Providing $200 million over two years to support industrial research for small and medium-sized businesses to encourage innovation

Invest in Canada’s knowledge infrastructure.

$2 billion for repair, maintenance and construction of post-secondary institutions

Budget 2009 supports those Canadians affected by the global slowdown with:

• A five-week extension to all regular EI benefits for two years
• Maintain EI premium rates of $1.73 for 2009 and 2010, providing relief of $4.5 billion over two years

• $1 billion funding increase over two years for training delivered through the EI program
• $500 million to extend EI benefits for workers in longer-term training
• $500 million over two years in a Strategic Training and Transition Fund to support the particular needs of individuals who do not qualify for EI training

Invest in older workers to ensure a viable, skilled workforce.

Balanced budgets are preferable to running deficits.  If a deficit is unavoidable, it must be short-term and temporary in its nature, with a plan to move budgets back into surplus.

The government is projecting deficits:

• $1.1 billion in 2008-09
• $33.7 billion in 2009-10 (of which $18 billion is attributed to new measures proposed in Budget 2009)
• $29.8 billion in 2010-11
• $13 billion in 2011-12
• 7.3 billion in 2012-13

The government projects a return to a surplus situation in 2013-14 ($0.7 billion).

No action taken.

Reduce the overall and cumulative regulatory burden/compliance costs on small and medium-sized enterprises (SMEs).

No action taken.

Legislation to create a common securities regulator for those willing to participate will be introduced in Parliament and a transition office will be set up.