1996 Canadian federal budget
 | |
| Presented | 6 March 1996 |
|---|---|
| Parliament | 35th |
| Party | Liberal |
| Finance minister | Paul Martin |
| Total revenue | 149.889 billion [1] |
| Total expenditures | 158.608 billion [1] |
| Deficit | $8.719 billion[1] |
| ‹ 1995 1997› | |
The Canadian federal budget for fiscal year 1996–97 was presented by Minister of Finance Paul Martin in the House of Commons of Canada on 6 March 1996.[2] It is the first Canadian federal budget that was identified with an unofficial subtitle: Securing the Future.[a]
Taxes
[edit]Personal income taxes
[edit]Incentives for investments in Labour-sponsored venture capital corporation (LSVCCs) are tightened:[3][4]
- The tax credit rate is cut to 15% from 20% ;
- The maximum yearly credit is cut from $1,000 to $525 ;
- Minimum holding periods to benefit from the LSVCCs credit is increased from 5 to 8 years.
Notes and references
[edit]Notes
[edit]- ^ Unlike in future budgets the subtitle is not displayed on the cover page of budget documents but as the first title of the budget speech.
References
[edit]- ^ a b c "Canada's deficits and surpluses, 1963-2014". CBC News. CBC/Radio-Canada. Retrieved 25 April 2015.
- ^ "La Presse". numerique.banq.qc.ca. 6 March 1996. Archived from the original on 2020-06-26. Retrieved 2020-06-17.
- ^ Budget Plan, p. 49.
- ^ Income Tax Budget Amendments Act, 1996, s 37(4).
Budget documents
[edit]- Budget Plan – Including Supplementary Information and Notices of Ways and Means Motions (PDF). Ottawa. 6 March 1996. Retrieved 14 May 2023.
{{cite book}}: CS1 maint: location missing publisher (link) - Budget Plan
- Budget Speech
- Budget in Brief
Enacted legislations
[edit]- Income Tax Budget Amendments Act, 1996, S.C. 1997, c. 25