The government continues to employ fiscal restraint and remains on target to achieve a balanced budget by 2015-16.
"The desired balanced budget serves as a beacon guiding the government in its financial planning," says
Because of lingering economic uncertainty, the government's focus has been a multi-year incremental approach to balancing its books.
"Spending shouldn't pick up until it is clear that the budget is balanced and additional money is available," says Hayos. "
Additional items of particular note in the budget:
• No new taxes on Canadian families or businesses. • Promised legislation requiring the Minister of Finance to table in Parliament annually a list of the government's outstanding tax measures. • The government is signalling its intention to review whether the income tax exemption for non-profit organizations remains properly targeted and whether sufficient transparency and accountability provisions are in place. • The introduction of measures to encourage charitable giving. • The government's continued commitment to combat international tax evasion, as well as protecting the tax base from abusive domestic transactions. The government is encouraging stakeholder consultation to address these matters.
Gaining a higher podium finish:
Going forward, CPA Canada will be looking for more than just a balanced budget. For our economy and Canadians to truly prosper, fiscal management should come alongside measures aimed at improving productivity, stimulating innovation and creating jobs.
"We will continue to make recommendations focusing on matters such as taxation, business filing and having Canadian companies to develop and commercialize their innovations in
About CPA Canada
SOURCE CPA Canada
Most Popular Stories
- Koch Brothers Step up Anti-Obamacare Campaign
- FDIC Sues Big Banks Over Rate Manipulation
- Stocks Close Lower Ahead of Crimea Vote
- FDIC Accuses Big Banks of Fraud, Conspiracy
- Jittery Investors Dumping Russian Stocks
- U.S. Consumer Sentiment Falls in Early March
- Is Malaysian Airlines Flight 370 in Andaman Sea?
- Ulta Shares Look Good on Strong Q4
- Vybz Kartel Convicted of Murder
- JLo Turns the Tables in New Vid: 'I Luh Ya Papi'