2012 Canadian Federal Budget Report
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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