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Seniors, families and homebuyers appear to have the most to gain in Budget 2016, but investors could take a hit
With a sluggish economy as a backdrop and election promises fresh in our minds, the nation is about to get its first glimpse into the fiscal priorities of the newly elected Liberal government. At Canadian Business, Mike Moffat, assistant professor in the Business, Economics and Public Policy (BEPP) group at the Ivey Business School, highlighted eight things he’ll be on the look out for in this Tuesday’s Budget. Among them: A simplification of the Income Tax Act, a food rebate program for low-income families and a possible guaranteed income program, much like the one recently announced in the Ontario budget. He writes:
The Ontario budget contained a clause committing to a basic income pilot and it is possible that the federal government may consider the same. I am highly skeptical of many of the proposals floated by proponents of a Guaranteed Minimum Income, so I will be looking to see if the federal government is considering moving in this directionAlready, a few personal finance promises have been announced, including Thursday’s pledge to restore Old Age Security eligibility to 65 years old. But taxpayers can expect many more changes and announcements to be released in Tuesday’s budget. In particular, here are four issues we’ll be looking for that could impact your pocketbook:
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