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Budget 2009
January 27, 2026
There were miniscule tax cuts netting us a few
hundred over the year.
There were some
interesting changes:
100% write off for 2
years on computers in Class 50 (good I'll rush out a buy
computers so I can add mine to the
landfill)
Renovation credits for your home or
condo meaning you can't pay cash...and get the
credit...what do you mean, I'm not cynical, but this
appears to be yet another stab at men with hammers
because Contract Reporting didn't even begin to nab the
home reno crowd so this is appealing to the home owner's
tax greed.
What they should have done was to
institute a tax credit for caregivers for persons with a
disability, now that would have netted some interesting
responses.
Increase from $20,000 to $25,000 for
Home Buyers Plan to stimulate the real estate market
which is totally stalled at least where I
live...
Persons who support or are a person with a
disability should re-read the Home Buyer's Plan guide
available on the CRA website because there are ways to
finance dwellings even if you aren't a first time home
buyer if you are a person who supports or a person who
is a person with a disability
First time home
buyers credit and...
First time home buyers
credit extended to persons with Disability Tax
Credit
No new medical expenses, and no
computers for kids with learning disabilities. Maybe you
buy a new computer, write it off 100% and donate your
old one to a child with a learning disability instead of
tossing it in the landfill at Burns Bog. Oh yes, we
can't do that anymore can we?
Last summer I
spent some time in Toronto and was appalled to see the
state of the roads and sidewalks and generally the
deterioration of the infrastructure. Hopefully some of
this largesse in building projects will include roadway
and sidewalk repairs in downtown Toronto and not just a
new hub area, which it does desperately
need.
What I particularily found appealing on
some base level was this one sentence under Measures to
help consumers of financial
products:
Establishing an independent tas
force to make recommendations on a cohesive national
strategy on financial literacy.
I want to be
on that task force. Last month I reviewed the provincial
math curriculum that espouses to be the tools children
need to learn about how to deal with financial affairs.
There were pages and pages on how to complete a time
sheet succesfully. Then they went on to explain a basic
paycheque and how to calculate compound interest.
Everyone knows it is a joke and its sad that many people
have no idea that investing in the stock market is
gambling with their entire capital. Didn't anyone ever
tell them that you gamble what you can afford to
lose?
Budget 2009
http://www.budget.gc.ca/2009/index.html
Read it for
yourself...everyone better have their own shovel ready
because we are going to be very busy digging ourselves
out of this recession...
Disclaimer:
Eileen Reppenhagen CGA does
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