| Department of Finance Canada | backgrounders
A new Benchmark Rate for insured mortgages will replace the Bank of Canada 5-Year Benchmark Posted Rate in determining the minimum qualifying rate (stress test).
| Department of Finance Canada | backgrounders
Net Impact of Measures to Make Life More Affordable for Canadians
| Department of Finance Canada | backgrounders
The Project as it stands today is very different from the project that Kinder Morgan estimated in 2017. It has been designed to a higher standard for environmental protection, undergone rigorous consultation with Indigenous groups and will support union jobs in B.C. and Alberta. These enhancements have improved the Project, ensured that construction proceeds in the right way, and that it will support the Canadian economy today and into the future.
| Department of Finance Canada | backgrounders
To build on this progress and to help put more money in the pockets of Canadians, the Government has proposed to raise the Basic Personal Amount (BPA), which is the amount of money Canadians can earn before they have to pay federal income tax. The increase coming into effect on January 1, 2020 is the first step in the Government's proposal to increase the BPA to $15,000 by 2023.
| Department of Finance Canada | backgrounders
Today, Minister of Finance Bill Morneau announced the 2020 Climate Action Incentive payment amounts for residents of provinces that have not adopted the federal system or otherwise met the federal stringency requirements for pricing carbon pollution: Ontario, Manitoba, Saskatchewan and Alberta. Individuals will be able to claim these amounts through their 2019 personal income tax returns.
| Department of Finance Canada | backgrounders
Today, the Government is moving forward with a proposal that would put more money in the pockets of Canadians, by lowering taxes for the middle class, and people working hard to join the middle class. This would be accomplished by increasing the BPA to $15,000 by 2023.
| Department of Finance Canada | backgrounders
Nine out of 10 families get more under the CCB than they did under the old system of child benefits and, for the 2019-20 benefit year, families benefitting will receive on average around $7,000. The CCB provides support for over 6 million children every year.
| Department of Finance Canada | backgrounders
In Canada, domestic producers may seek to have anti-dumping and countervailing duties imposed pursuant to the Special Import Measures Act following investigations by the Canada Border Services Agency, to determine if imports were dumped or subsidized, and the Canadian International Trade Tribunal, to determine whether such imports injured or threaten to injure Canadian producers.
| Department of Finance Canada | backgrounders
The METR is an estimate of the level of taxation on a new business investment, and takes into account federal, provincial and territorial statutory corporate income tax rates, as well as other features of the corporate tax system.
| Department of Finance Canada | backgrounders
The Government will seek to meet with Indigenous groups and organizations that represent Indigenous groups. This step will also allow for input from other interested parties, including the general public, should these parties wish to express their views.
