Red Ink on the Prairies
A day after Quebec’s Finance Minister Eric Girard brought down a Budget featuring a $6.3 Billion deficit, Saskatchewan’s Finance Minister Jim Reiter tabled his government’s budget on March 19. Next up was Finance Minister Adrian Salas, who tabled the Manitoba Budget on March 24. The common thread: there’s lots of red ink on the Prairies. But that’s where the budget documents differ between Manitoba and Saskatchewan. Here’s the latest tax news and why it matters to the advice you give your clients.Budget 2015: What’s in it For You
How did the Pre-Election Budget help you?
We've included several scenario's in this report to help you consider whether you were a winner.
Scenario 1: Young Couple No Children
Michael and Jessica are a young couple living in their condo in Vancouver. How will the budget affect them?
Scenario 2: A Young Family
Matthew and Ashley live in Winnipeg. They have two children, ages 3 and 5. They own their own home.
Scenario 3: Retired Couple with RRIFs
Brian and Patricia retired a few years ago. Brian is 74 and Patricia is 72. The couple live in Halifax, NS and have RRIF balances of $300,000 and $400,000 respectively.
Scenario 4: Seniors Without TFSAs
Robert and Jackie are contemplating retirement. Robert is 65, earns $55,000 from employment and also receives a $24,000 pension.
Scenario 5: Single Taxpayer – No Children
Glen is single, age 55. He lives alone in a rental apartment in Hamilton, Ontario. His current salary is $55,000. His rent is $1,000/month.
