Live Chat: Your federal budget questions answered

Our expert Q&A on how the budget affects you

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Experts from Maclean’s magazine and our very own MoneySense personal finance gurus are here to answer all your federal budget questions. All economy and political questions were addressed during the first half of the hour-long chat and the personal finance portion ran for the second half.

The live portion has concluded. Scroll down to see all the questions and answers!

24 comments on “Live Chat: Your federal budget questions answered

  1. With a income of 45000 how is the new child tax benefit to me or how much a month will I receive

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  2. How much will a family that makes 70,000 and has a child 13 years old?

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  3. Hello,as I am already living in a senior building, it is difficult,we have seniors living here that should be in total care . They can not take care of themselves.i feel senior buildings should be on one level. Equipped with essay entrance and exit, due to health issues, like heart, copy,diabeates,, and more which I would love to have the opportunity to discuss,we have people forgetting to turn off the water causing floods thus new guprock, cupboards , flooring one more, these floods also sprea our already bed bug problem to other floors, there are people here that have flooded their apartments 5,6 times. The cost alone, if they had areas for seniors it would save in many ways,we would also have a better quality of living, these 11 ,20 floor buildings could be easily rented to people working in the down town core.what a treat it would be to go out my door to a little piece of grass to place a chair and enjoy a sunset,we are getting older. But some of us still enjoy living, because of low income we are forced to live in situations that are difficult.i have lots of ideas and would love the opportunity to discuss some with the powers that be. Let’s make our final years as happy as sossinle, elevators in senior buildings are costly. There would be none if buildings were constructed on one level. Little gardens we could plant and much more,

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  4. MY husband will be 65 in 2017,I will be 60 next august. When my husband retire I will be aloud to have the allowance?P.s I have $642 disability pension. Thank you Agar

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  5. I have a low income three children one which receives disability tax credit how will my child tax increase for july 2016 i am curious how it breaks down i have one 13 9 and 6 year old and do we get back paid again?

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  6. With the increase on the family tax for 2016….is there retro pay to come with that? Worried abut next tax season! !

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    • There is no increase in the Family Tax Cut. There is an elimination of the Family Tax Cut that was introduced by the former Conservative government. Instead, the Liberals are offering beefed up child benefits and a middle-income tax bracket cut.

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  7. Hi
    I’m receiving $580 per month for my 2 years old baby. Since they combine two benefits ( Universal child care benefit and Canada child benefit) , that means i will be getting $533 per month . How is there a increase of the monthly child benefit.

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  8. So I am a Mom of one child and my husbands yearly income is $100,000. I get the UCCB and I’m just wondering what is going to change for me??

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  9. So how much would my family recieve “roughly” 4 children 1 under six and the other 2 under 18 along with my husband and I? Family of five

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  10. Will they retro pay the new 2016 child tax care benefit back to Jan 1 2016 from July 2016?

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  11. Hi I have an question me and my husband’s income is $33,000 and we have two kids how much we will receive.

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  12. hi i am a single mom of a special needs 4 year old i do get the disability tax credit for with a income of 22,000 a year i am wondering if i am gonna end uo getting less money a year with this new tax credit coming in july

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  13. Sudbury.com says the new CCB will be lump sum retroactive to January 2016 to cover the taxable uccb still going out as well as all the family tax cuts, is this true? And if not what is the plan for tax time next year concerning the six months of uccb? Thank you any information is helpful

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  14. Hello im wondering what is happaning with my child tax this year ? Im a single parent but since i have done my taxes i have been laid off from work and making a 1000 dollars less a month

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  15. I sold my shares in a business and although there is supposed to be a capital gains exemption, I had to declare it on this years tax return(as per my accountant). Now, due to the fact that it went on my tax return as income, I am not getting any Child Tax Benefit, I was wondering if that is the correct way of doing it? I can’t find any information on whether Capital Gains effects child tax.

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  16. hello, i am a gardian of my 10 year old grandson, who does this work for me ? my income for the year is 10,900.00.

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  17. If our PM said we were supposed to ger a raise in our GIS howcome mine got cut back? I am a struggling 76 year old senior and I got cut back because I did painting for someone last year and made $1200.00. Maybe Trudeau should try living on the seniors income and see how he would do.

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