Comments on: 2007 Federal Budget Disappoints

By: Federal Budget 2008: Tax Free Savings Account (TFSA) | Million Dollar Journey

Wed, 27 Feb 2008 08:32:00 +0000

[...] since they were elected. The biggest election promise that I was hoping for this year was the capital gains exemption that they spoke of a couple years back. The plan was that investors could carry forward their [...]

By: FrugalTrader

FrugalTrader — Thu, 22 Mar 2007 11:12:00 +0000

LB: Thanks for the heads up. Those costs will definitely be passed down to the buyer, gas guzzler manufacturers like ford/chrysler/gm are having a tough enough time making profits as it is.

Readers: Also, the “rebate” will have to be applied for, they won’t give that to you when you purchase.

By: LB

LB — Thu, 22 Mar 2007 01:44:42 +0000

Minor correction regarding the levy on “gas guzzlers”. The levy is actually paid by the manufacturers but I’m sure that if they are going to have to pay that it will be downloaded to the buyer in the end.

By: Q Cash

Q Cash — Wed, 21 Mar 2007 17:52:18 +0000

Disappointing doesn’t cover it. However, what I sometimes forget is that we are in a minority situation and the Prime Minister and Finance Minister can’t do everything I am sure they would like to do.

Here’s hoping for a majority Tory govt next time.

:-)

By: Canadian Capitalist » What Others are Saying About the Budget?

Canadian Capitalist » What Others are Saying About the Budget? — Tue, 20 Mar 2007 21:54:49 +0000

[...] Million Dollar Journey personally found the budget disappointing. [...]

By: jamesonandwater

jamesonandwater — Tue, 20 Mar 2007 13:03:04 +0000

Like the deductibility of weekly transit passes & the sin tax on the SUVs a lot. I know it was a faint hope, but if they’d allocated one cent of the GST to the cities he may have had my vote for a while. As it is …

By: FrugalTrader

FrugalTrader — Tue, 20 Mar 2007 12:04:16 +0000

George, good point! Something that I overlooked! The bright side of the extra CESG in the early years is that you can obtain the CESG money earlier to take advantage of compounding.

By: George

George — Tue, 20 Mar 2007 11:50:43 +0000

Something that’s been often-overlooked about the changes to RESPs is that the maximum yearly CESG is proposed to rise to $500 from $400, but the lifetime CESG maximum remains at $7200. This means that you can contribute $2500 a year to get the maximum grant, but you’ll stop receiving grant money entirely 14 years or so into the plan.

Unless, of course, the lifetime maximum for the CESG goes up sometime in the next 14 years’ worth of budgets…