Feds table 2015 budget
The feds 2015 budget has been tabled, with the Conservatives projecting a $1.4 billion surplus in posting the first balanced budget in eight years.
The budget boosts funding to the Canadian Armed Forces by committing $11.8 billion over 10 years starting in 2017 along with funding to boost security on Canadian Armed Forces bases.
The feds will also provide the military with more than 360 million dollars to fight the Islamic State this year.
The small business tax rate drops from 11 to 9 percent in 2019, and 5.35 billion dollars a year has been set aside for the New Building Canada Plan.
Also in the budget, the feds are planning to cut Employment Insurance premium rates from $1.88 in 2016 to $1.49 in 2017.
Also, the feds will cut the minimum withdrawal amounts for the Registered Retirement Income Funds, allowing seniors to earn more from their various investments and pay fewer taxes.
Finally the TFSA annual limit has been raised to $10,000 from $5,500.