The AC Group of Independent Accounting Firms Limited

*2013 Coming Soon*

Federal Finance Minister Jim Flaherty tabled the government’s 2012 Budget in the House of Commons on Thursday, March 29. Presented in a 498-page document entitled “Economic Action Plan 2012: Jobs, Growth and Long-Term Prosperity,” the Budget will likely be considered to be favourable to businesses, as it includes provisions to increase funding for research and development, improve access to risk capital and extend the hiring tax credit for small businesses. 

How will the Budget impact the Atlantic Canadian region? The Budget does not provide specific incentives for the growth of the Atlantic Canadian economy, and there is not sufficient information provided on how much of the cost-cutting measures will impact federal government programs and departments located in this region.  Comments made in the presentation of the Budget suggest the federal government’s position that individuals have an obligation to relocate to where the jobs are may be a concern to the Region, and especially rural communities, unless the Atlantic Canadian economy is able to grow in proportion to the rest of Canada.

 

For more information on the Federal Budget and how it will affect you, please feel free to download your copy of our 2012 Federal Budget Commentary or contact your AC Group tax advisor.