Ottawa, June 26, 2013
2013-090
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The Honourable Jim Flaherty, Minister of Finance, welcomed Royal Assent of Bill C-60, the Economic Action Plan 2013 Act, No. 1, which brings into law key measures from Economic Action Plan 2013.
“Our Government is now poised to begin implementing the job-creating measures set out in our Economic Action Plan,” said Minister Flaherty. “Economic Action Plan 2013 is the next chapter in the Government’s long-term plan to strengthen the Canadian economy in an uncertain world and create jobs and growth, while keeping taxes low for families and businesses and balancing the budget by 2015.”
Key elements of the Economic Action Plan 2013 Act, No. 1 that will position Canada for long-term success include:
- Extending for two years the temporary accelerated capital cost allowance for new investments in machinery and equipment by Canadian manufacturers.
- Reforming the Temporary Foreign Worker Program to ensure that Canadians are given the first opportunity at available jobs.
- Promoting adoption by enhancing the Adoption Expense Tax Credit to better recognize the costs of adopting a child.
- Introducing a new, temporary First-Time Donor’s Super Credit for first-time claimants of the Charitable Donations Tax Credit to encourage all young Canadians to donate to charity.
- Improving the fairness of the tax system.
“Measures in Bill C-60 will enable us to build on our Government’s strong job record,” added Minister Flaherty. “Canada continues to have the strongest job growth among the Group of Seven (G-7) countries over the recovery with over 1 million jobs created since 2009. We will continue to take the steps needed to ensure long-term prosperity for Canadians.”
