Today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, was at Fanshawe College in London, Ontario, to continue the Government of Canada’s consultations for Budget 2020. Minister Fortier took part in a roundtable discussion to hear from local business leaders and stakeholders about how the government can help grow the economy in a way that works for everyone.
Today, Finance Minister Bill Morneau was in Vancouver, British Columbia, to continue the Government of Canada’s consultations for Budget 2020. Minister Morneau joined local business leaders in a roundtable discussion hosted by the Greater Vancouver Board of Trade. The discussion focused on investments to help grow the economy, create more good, well-paying jobs, and help businesses get ahead.
Today, the Honourable Mona Fortier, Minister of Middle Class Prosperity and Associate Minister of Finance, was at St. Clair College in Windsor, Ontario, to continue the Government of Canada’s consultations for Budget 2020. Minister Fortier took part in a roundtable discussion to hear from local business leaders and stakeholders and talk about investments to help grow the middle class and encourage businesses to prosper.
Today, Finance Minister Bill Morneau was at Ryerson University in Toronto, Minister of Middle Class Prosperity and Associate Minister of Finance Mona Fortier was at HEC Montréal in Montréal, and the Parliamentary Secretary to Ministers Morneau and Fortier, Sean Fraser, was at Saint Mary’s University in Halifax to participate in town halls and launch the Government of Canada’s consultations for Budget 2020.
The Department of Finance Canada announced today that Canada’s official international reserves increased by an amount equivalent to US$284 million during December to US$85,297 million.
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.
To provide additional flexibility to amateur athletes whose trusts are maturing in 2019, Finance Minister Bill Morneau today announced the Government's intention to introduce in Parliament the legislative proposals accompanying this news release, which would extend the maturation period of these trusts by one year, from eight years to nine years. These trusts would now mature in 2020.
The Department of Finance Canada today announced the income tax deduction limits and expense benefit rates that will apply in 2020 when using an automobile for business purposes.
Earlier this year, the Government announced its intention to move forward with changes to the tax treatment of employee stock options. Today, Finance Minister Bill Morneau provided an update on the proposed changes.
