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Canada budget cuts surtax and equalizes marriage credits
The 1992 93 federal budget lowers the personal surtax from five to four percent on the first 12500 and to three percent next year while keeping the higher tax on amounts above 12500. It ends the common law credit for first child, ties into GST credits, and allows spousal RRSPs. RRSP limits stay at 12500 for 1992 with 13500 planned for 1993. disability pensions become earned income for RRSPs. Home buyer RRSP withdrawal up to 20000 eyed with risks to be reviewed next week.
MENTIONED IN THIS ARTICLE
Canada
Ottawa
Canada Pension Plan
Quebec
RRSP
Mardon
Investors Group Inc