Thursday, 29 July 2010
 
What's in the budget for business

THE CANADIAN PRESS
January 27, 2009


OTTAWA - A quick look at the initiatives in the aimed at business:

-$12 billion for a Canadian Secured Credit Facility to support financing to buy or lease vehicles and equipment.

-Buy an additional $50 billion under the Insured Mortgage Purchase Program in the first half of the 2009-10 financial year, on top of the $75 billion already purchased.

-Increase the maximum eligible loan amount small businesses can access under the Canadian Small Business Financing Program for loans after March 31 to $350,000 from $250,000, and to $500,000 for loans for acquiring real property.

-$5 billion for the new Business Credit Availability Program.

* Video: 50 per cent approve of federal budget

-Introduce Federal Securities Act for Canada this year with a transition office to deliver an administrative plan within 12 months.

-Create the Canadian Life Insurers Assurance Facility to provide insurance on the wholesale term borrowing of life insurance companies.

-Increased flexibility for the Canadian Deposit Insurance Corp., including the ability to own shares in member institutions.

-Extension of the 50 per cent straight line accelerated capital cost allowance rate for investment in manufacturing equipment in 2010 and 2011.

-Temporary 100 per cent capital cost allowance rate for computers bought before Feb 1, 2011.

-Increase the amount of income eligible for the small-business tax rate to $500,000 from $400,000.

-Extend the Mineral Exploration Tax Credit, which was set to expire in 2009, by one year.

-$10 million for the Canadian Youth Business Foundation.

-$30 million over two years for the Canadian Business Network.

 

 
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