Ernst & Young breaks down the federal budget

(Toronto  – 17 March , 2011) Canadians are bracing for rumoured service cuts. The nation is deeply in the red, and the Harper government is aiming to balance its books. Will the budget measures introduced this year be able to bolster the fledgling economic recovery?

Here’s what we do know:

• The government will reaffirm the enacted 2012 corporate income tax rate reduction.
• The government will likely review regional and sector-specific tax expenditure programs (especially those involving refundable tax credits) and likely eliminate or phase out those that aren't meeting its stated policy objectives.

Ernst & Young’s seasoned tax professionals are available to discuss what the budget can mean for Canadian businesses and taxpayers. They can also break the budget down by industry.

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