Archived - Minister Morneau Tables a Motion to Support the Middle Class and Help Grow the Economy
April 18, 2016 – Ottawa, Ontario – Department of Finance
Minister of Finance Bill Morneau today tabled in the House of Commons a Notice of Ways and Means Motion to implement the new Canada Child Benefit and certain tax measures announced or confirmed in Budget 2016, Growing the Middle Class.
The Ways and Means Motion is a significant step forward for the Government’s plan to build an economy that works for Canadians and their families and offer immediate help to those who need it most.
As an immediate first step, the Ways and Means Motion will introduce the Canada Child Benefit. The Canada Child Benefit will be simple, tax-free, generous, and targeted to those who need it most. It will put more money in the pockets of nine out of ten Canadian families, representing the most significant social policy innovation in a generation.
The Ways and Means Motion also includes proposed amendments that would:
- Introduce the Teacher and Early Childhood Educator School Supply Tax Credit so that educators receive support for supplies they buy for their students.
- Increase the maximum residency deduction available under the Northern Residents Deductions, to help draw skilled labour to northern and isolated communities.
- Relieve the Goods and Services Tax/Harmonized Sales Tax from insulin pens, insulin pen needles and intermittent urinary catheters to ensure better health care for Canadians.
- Restore the Labour-Sponsored Venture Capital Corporations (LSVCC) tax credit for share purchases of provincially registered LSVCCs, which will facilitate access to venture capital for small and medium-sized businesses and support saving by the middle class.
With Parliament’s approval of the Ways and Means Motion, the Government will introduce a budget implementation act that would contain these measures as well as certain non-tax measures in Budget 2016.
Office of the Minister of Finance
Department of Finance
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