23 ways Federal Budget 2019 could affect your wallet - Macleans.ca

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The Liberals' Budget2019 is focusing on helping first-time homebuyers, lowering student loan burdens and boosting retirement benefits for low-income seniors

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4. The EI Training Support benefit provides four weeks of income support every four years so that workers can take time off to go to school or train in some way. The four weeks can be spread out over the four years, in whatever way employees determine best suits their needs. This measure will launch in late 2020. Another measure will allow workers to take time off to study without losing their jobs.

8. The eligibility for the Severe Permanent Disability Benefit will expand to allow more student borrowers with severe permanent disabilities to qualify for loan forgiveness. 12. GIS income exemptions will be boosted, meaning low-income seniors can earn more employment income with fewer clawbacks. Currently, the GIS earnings exemption allows low-income seniors and spouses to earn $3,500 per year in employment income without it triggering a reduction in GIS benefits. Budget 2019 extends that exemption to self-employment income and increases the full exemption to $5,000 per year. These changes also apply to allowance recipients.

15. There will be an incentive of up to $5,000 for electric battery or hydrogen fuel cell vehicles that retail for less than $45,000. Businesses will be eligible for a full tax write-off of electric vehicles.

 

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Federal budget 2019: Eight ways the budget will affect your personal financesBudget offers an array of incentives aimed at first-time homebuyers, raises the limit on tax-free RRSP withdrawals and gives students a break on student loans globemoney There is zip in this budget that will benefit me. globemoney If you’re a taxpayer the money only flows one way. Into the wealth redistribution scheme called government. Taxpayers are mindless worker drones creating comfort for the ones that can’t be bothered to put in an effort. F*ck Government. cdnpoli globemoney David & Peg Leg: After a 'full analysis' you make these intelligent comments!! Yikes
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