Last week, Jim Flaherty (the Minister of Finance) introduced the Sustaining Canada’s Economic Recover Act. This Act was developed to be a key component of Canada’s Economic Action Plan.
Some of the highlights of the Act include:
- the implementation of Employee Life and Health Trusts
- taxpayers are now able to request online notices from the Canada Revenue Agency
- employee stock options now have better targeted tax incentives
- expanding access to Accelerated Capital Cost Allowance for clean energy generation