July 11, 2011 - The Federal Government is offering 2011 tax deferrals to livestock producers who have been dealing with excess moisture and flooding in designated areas of Manitoba.
April 12, 2011 - Budget 2011 projects a summary deficit of $438 million for the current fiscal year 2011/2012. The deficit is still expected to be eliminated over the course of Manitoba’s Five-Year Economic Plan introduced in last year’s budget that will see the province return to surplus by 2014/2015.
On March 29, 2011, Ontario’s Government handed down a budget that forecasts a deficit of $16.7 billion for 2010-2011, a reduction of $3 billion from the 2010 budget prediction. The budget continues to forecast declining annual deficits until a balanced budget is reached by 2017-2018.
On March 22, 2011, federal Finance Minister Jim Flaherty tabled the federal government’s budget under the theme A Low-Tax Plan for Jobs and Growth. The projected deficit for 2010-2011 is $40.5 billion, which is almost $9 billion less than was projected in budget 2010.
March 23, 2011
Saskatchewan tabled a surplus budget of $115 million for fiscal 2011-2012. The budget will also pay down the provincial debt by another $325 million.
The budget contained a number of tax measures that lowers taxes for individuals and businesses, as summarized below.
Budget 2011 forecasts deficits of $3.4 billion for 2011-2012 and $681 million for 2012-2013. A return to a balanced budget and a surplus of $1.3 billion is forecasted for 2013-2014, one year later than planned. The deficits will be offset by transfers from the Sustainability Fund, as will the forecast deficit of $4.8 billion for 2010-2011. It
February 15, 2011
Budget 2011 forecasts deficits of $925 million in 2011/12 and $440 million in 2012/13, and a surplus of $175 million in 2013/14. The total provincial debt is forecast at $53.4 billion in 2011/2012, $57.6 billion in 2012/2013 and $60.4 billion in 2013/2014.
On February 9, 2011 the Federal Government announced a further extension for 2010 tax deferrals to livestock producers who have been affected by excess moisture in the following designated areas of Central Saskatchewan and South-West and North-West Manitoba.
Saskatchewan- 2010 Excess Moisture Designations
Ontario’s Government handed down a budget that forecasts a deficit of $21.3 billion for 2009-10 and $19.7 billion for 2010-11. The budget also sets out an eight-year plan to cut the deficit in half in five years, and eliminate it in eight years by 2017-18.
The following is a summary of the tax-related measures contained in the budget.
Saskatchewan tabled a balanced budget for fiscal 2010-11 by reducing overall government spending by $121.3 million or 1.2% from last year’s budget.
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