2008 Canadian federal budget
Encyclopedia
The Canadian federal budget
for the 2008-2009 fiscal year was presented to the Canadian House of Commons
by Finance Minister Jim Flaherty
on February 26, 2008.
The budget included a surplus of $10.2 billion to be applied to pay down federal debt, and the introduction of the Tax-Free Savings Account
(TFSA).
Canadian federal budget
In Canada, federal budgets are presented annually by the Government of Canada to identify planned government spending, expected government revenue, and forecast economic conditions for the upcoming year....
for the 2008-2009 fiscal year was presented to the Canadian House of Commons
Canadian House of Commons
The House of Commons of Canada is a component of the Parliament of Canada, along with the Sovereign and the Senate. The House of Commons is a democratically elected body, consisting of 308 members known as Members of Parliament...
by Finance Minister Jim Flaherty
Jim Flaherty
James Michael "Jim" Flaherty, PC, MP is Canada's Minister of Finance and he has also served as Ontario's Minister of Finance. From 1995 until 2005, he was the Member of Provincial Parliament for Whitby—Ajax, and a member of the Progressive Conservative Party caucus...
on February 26, 2008.
The budget included a surplus of $10.2 billion to be applied to pay down federal debt, and the introduction of the Tax-Free Savings Account
Tax-Free Savings Account
The Tax-Free Savings Account is an account that provides tax benefits for saving in Canada. Contributions to a TFSA are not deductible for income tax purposes. Investment income, including capital gains, earned in a TFSA is not taxed, even when withdrawn.-History:It was introduced by Jim...
(TFSA).