That compares to a surplus of $6.3 billion during the same period last year
Proposals from the 2023 budget are out for consultation until Sept. 8
Revenues rose by $1.3 billion on higher interest and employment insurance premiums, and greater proceeds from personal income tax
Changes to RESPs and RDSPs, caps on payday loans and leeway to increase the CDIC limit are all law now
Debt charge rose 42% from 2021-22 because of rate hikes, revenues up 8.6%
Interest rates pushed debt charges up 40.7%
Changes to RESPs and RDSPs are included in the legislation, as well as leeway to increase the CDIC limit
Here’s the status of tax proposals that matter to your clients
Changes to the Income Tax Act are good news for employers with pension plans
Advocate suggests EOT legislation, as proposed in the 2023 federal budget, will not lead to increased employee ownership