Budget 2015

[cottonpicken]

No surprises i guess balanced but they went into contingency so ?doubled tfsa to ten g,cut business tax to nine.

Have to read it hopefully no surprises like last year.

[SASKFARMER3]

Steady as she goes.

[cottonpicken]

Page 25 lifetime capital gains exemptions on farms and fisheries 1 million

[cottonpicken]

Page 88 capital cost allowance will get juiced to 90 percent within four years

[Richard5]

Capital cost change will most likely not include farmers

[gustgd]

Small Business tax rates: will decline yearly to reach 9% by 2019 (current rate is 11%)

Assuming your married with that increased capital gains exemption, your $400K richer than you were when you are lunch today.

Lots of stuff on trade promotion and trade deals.
G

Does anyone know if the AG items take effect now or in 2016?

[Richard5]

Ag items??

The only ones appear to be the lifetime capital gains exemption change and the business taxes on the first 500,000

Tax reduction starts in 2016 at .5%. Gains limit appears to be budget date

[wakopa]

that 10000 tfsa a year does anyone know if we start this year making a depoist or next.

[cottonpicken]

Rich, you may be right rereading it looks directed at manufacturing.

I'll have to eat crow i never thought they would be able to come close to balancing but a few years out i think their numbers are a little rosy.

[farmaholic]

I thought I heard the TFSA is under utilized. What is raising the contribution limit going to do if so few use it or aren't making their maximum contributions now? Hardly useful to average income earners.