Grocery money, clean tech tax breaks expected in federal budget Tuesday
A second top-up to GST rebate cheques for low-income Canadians and “significant” new tax measures to keep Canada in the green technology game will be among the highlights in Finance Minister Chrystia Freeland’s federal budget on Tuesday.
But it will also have to do something to focus on the “here and now” said Surkes, as Canadians are still seized with the high cost of living following months of above-normal inflation. Maximum benefits, generally paid to individuals and families with incomes up to $35,000 will be the same as they were for the GST top-up in the fall: $234 for a single person with no children, $467 for a couple with two children and $225 for a senior citizen. Smaller amounts are sent as incomes grow to a maximum income of $60,000.
The budget will also look to further Canada’s attempt to stay competitive on clean technology, a transformation Freeland has likened to the greatest economic overhaul since the Industrial Revolution. The Liberals’ fall economic update already promised tax credits for hydrogen production and clean electricity, and those are both expected to roll out in the budget, but there will be additional tax credits beyond just those two.
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