OTTAWA — Cheryl Gallant, MP Renfrew-Nipissing-Pembroke, is pleased to confirm Economic Action Plan 2015 proposes to provide up to $72.3 million in 2015-16, on a cash basis, to Atomic Energy of Canada Limited to maintain safe and reliable operations at the Chalk River Laboratories. It also proposes to provide $23 million over four years on a cash basis, starting this year, to upgrade the physical security of Canadian Armed Forces bases, including Garrison Petawawa.
“As your local Member of Parliament, I work to bring benefits to our local riding, particularly when it comes to some of our largest employers,” MP Gallant stated. “That is one of the many benefits of having an experienced Member of Parliament in government. I am proud our Conservative Government delivered a balanced budget with no cuts in services and no tax increases.”
In addition to specific local benefits, Economic Action Plan Federal Budget 2015 will:
• Increase the Tax-Free Savings Account annual contribution limit to $10,000, effective for the 2015 and subsequent taxation years.
• Support seniors by introducing changes to the Registered Retirement Income Fund that will allow them to withdraw less from their tax-deferred savings.
• Support seniors and persons with disabilities by introducing the Home Accessibility Tax Credit to help with renovation costs so that they can live independently and remain in their homes.
• Enhance access to post-secondary education by expanding the eligibility for Low- and Middle-Income Canada Student Grants to students in short-duration programs
• Extend the temporary measure that allows a qualifying family member to become the plan holder of a Registered Disability Savings Plan.
• Support the most vulnerable in our communities by providing $50 million in 2016–17 to support social housing in Canada by allowing social housing providers to prepay their long-term, non-renewable mortgages without penalty.
• Reduce the small business tax rate to 9 per cent by 2019 – putting an estimated $2.3 billion back into the pockets of job-creating entrepreneurs between now and 2020.
• Increase the Lifetime Capital Gains Exemption to $1 million for farmers.
