The Federal Budget is scheduled to be released Tuesday afternoon, and various media and private sector organizations are weighing in on what Canadians can expect. (Note: the following items have been leaked and are not confirmed.)
• Rural doctors and nurses may see their student loans forgiven;
• $400 million may be provided to renew the ecoEnergy Retrofit Grants program that was set to expire on March 31, 2011;
• Transfer payments (likely the Guaranteed Income Supplement) to senior citizens may be boosted by $700 million;
• A tax credit may be created for parents whose children enrol in arts programs; and
• The Government may consider increasing the thresholds at which the two highest tax rates apply, boost TFSA and RRSP contribution limits, raise the age of converting a RRSP to a RRIF and reduce the minimum annual RRIF withdrawal amounts.
Check in with us on Tuesday evening for complete coverage of Budget 2011 and what it will mean to your pocketbook.