This past March 29, 2012, Canadian Minister of Finance Jim Flaherty tabled his seventh budget. The Harper Government’s focus is on balancing the budget in the medium-term, which involves cuts to operating budgets, while also encouraging long-term economic growth with a focus on job creation and major changes impacting innovation in Canada

HIGHLIGHTS

• Deficit of $24.9 Billion for 2011-12
• Projected Deficit of $21.1 Billion for 2012-13
• No New Personal or Corporate Taxes
• SR&ED Investment Tax Credit Revised
• Old Age Security Eligibility Delayed

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