1996 (1996) Budget of the Canadian Federal Government
Securing the Future
Presented6 March 1996
Parliament35th
PartyLiberal
Finance ministerPaul Martin
Total revenue149.889 billion [1]
Total expenditures158.608 billion [1]
Deficit$8.719 billion[1]
 1995
1997 

The Canadian federal budget for fiscal year 1996-1997 was presented by Minister of Finance Paul Martin in the House of Commons of Canada on 6 March 1996.[2] It is the first Canadian federal budget that was identified with an unofficial subtitle: Securing the Future.[lower-alpha 1]

Taxes

Personal income taxes

Incentives for investments in Labour-sponsored venture capital corporation (LSVCCs) are tightened:[3][4]

  • The tax credit rate is cut to 15% from 20% ;
  • The maximum yearly credit is cut from $1,000 to $525 ;
  • Minimum holding periods to benefit from the LSVCCs credit is increased from 5 to 8 years.

Notes and references

Notes

  1. Unlike in future budgets the subtitle is not displayed on the cover page of budget documents but as the first title of the budget speech.

References

  1. 1 2 3 "Canada's deficits and surpluses, 1963-2014". CBC News. CBC/Radio-Canada. Retrieved 25 April 2015.
  2. "La Presse". numerique.banq.qc.ca. 6 March 1996. Archived from the original on 2020-06-26. Retrieved 2020-06-17.
  3. Budget Plan, p. 49.
  4. Income Tax Budget Amendments Act, 1996, s 37(4).

Budget documents

Enacted legislations

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