t.- by 2004, the credit will have increased to at least $8000- middle tax bracket has been increased from $29, 590 to $30, 004. The impact of this is estimated at $108 for anyone earning more than the previously stated amount.- there will be cuts to the middle tax rate from 26% to 24% in July of 2000- the top tax bracket rises from $59, 180 to $60, 009. Which is a total of $240 in savings this year. Eventually, it will rise to $70, 000.- there will be a 1.4% increase of : spousal credit, the age amount for seniors, the disability credit, the medical expenses credit, the Old Age Security replacement threshold and the goods and services tax credit.- there will be increases to the Child Tax Benefit by fiscal 2004-2005. Also, as inflation increases this credit will too.- capital gains tax has decreased. If you were to transfer your investment from one stock to another, there would be no tax on your capital gains at that point.- the government has also committed to promoting research and development in universities, research hospitals and the private sector. He has also promised to help newer environmental technologies and improve practices and strengthen provincial and municipal foundations.- Canadian Health and Social Transfer increased support for the post-secondary education and healthcare by $2.5 billion.- provides $900 million over five years to establish and sustain $2, 000 Canadian Research Chains by 2004-2005. f)assessment of the budget from critics and proponents The budget for fiscal 2000-2001 has stirred up a lot of controversy. Alexa McDonough, who leads the New Democratic Party, has openly disapproved of Liberal government for not funding health care as much. "The system is hemorrhaging and they're offering two cents on health care for every dollar of tax cuts. That is a prescription for longer waiting lists, more people in emergency rooms and more pain and suffering," she said.Reform MP Keith (Esquimalt-Juan de Fuca) ...
