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NEWS

The Edmonton Sun n Friday, March 22, 2013

FEDERAL BUDGET 2013

2013-14 (bracketed $ are 2012-13)

Other revenues $25.6 ($25.5) EI premium revenues $21.9 ($20.1) Other excise taxes/duties $10.9 ($11.2) Customs import duties $4.0 ($4.0) GST $29.9 ($28.9) Other income tax $5.4 ($5.2) Corporate income tax $34.6 ($33.0) Personal income tax $131.5 ($126.2)

BREAKING DOWN THE BUDGET

(gures in billions of dollars)

Where the money goes

Direct program expenses $119.2 ($122.1) Other $0.4 ($1.2) Fiscal arrangements $18.6 ($17.8) Gas tax fund $2.1 ($2.0)

$4.4B $1.9B

Highlights

will be saved over ve years by closing tax loopholes and improving fairness and integrity of the tax system. (And yes, snitches will get paid.)

Where the money comes from

Federal transfer support for health and Over 7 years, to help support other social programs disabled, ill or elderly veterans. $42.7 ($40.8) Childrens benets $13.1 ($12.9) Employment Insurance $18.3 ($17.5) Elderly benets $42.0 ($40.1) Public debt charges $29.7 ($29.0)

TOTAL REVENUES $263.9 BILLION

($254.2 BILLION)

TOTAL EXPENSES
$282.6 BILLION
($280.1 BILLION)

$53B $15,000
For a new infrastructure program, over 10 years.

$18.7B ($25.9)

DEFICIT

Alternative payments for standing programs -$3.5 ($3.3) (gures may not add up due to rounding)

per person The Canada Job Grant will provide money so employees can upgrade their skills

Revenues/expenses
$350 $300 250 200 150
revenues expenses

Budgetary balance
$10 5

Debt-to-GDP
40 35 30 25 20 15 10 5 0 05-06 07-08 09-10 11-12 13-14
projected

billions

-5 -10 -15 -20 -25 -30

billions $3.9 $5.1 12-13 13-14 14-15 $0.8 0 15-16 16-17 17-18 -$6.6

per cent of GDP

We will remain focused on what matters 100 to Canadians jobs and economic growth, 50 and ensuring Canadas economic advantage today will translate into the 0 11-12 12-13 13-14 14-15 15-16 16-17 17-18 long-term prosperity of tomorrow.
Jim Flaherty, Minister of Finance
projected

-$18.7 -$25.9

15-16

17-18

WHATS AVERAGE JOE IN IT FOR YOU?

Source: Government of Canada

=\\c`e^Z_Xi`kXYc\6=`ijk time donors will now get super-sized donation credits on up $1,000 of charitable donations. =fik_fj\n`k_XjXm`e^j deposit box, its no longer a tax deduction. Jfiipj\e`fij#efk_`e^ really new in this budget to help you out.

FAMILIES

Youll no longer need to go crossborder shopping for sports equipment or baby clothes. The government will be eliminating the tariffs on these items to keep prices comparable and promote tness.

BIZ OWNERS
Increase in lifetime capital gain exemption. So if you sell your business or farm, you can save an additional $10-12K in capital gains taxes.

Where it fell short, according to Donald Carson of the Canadian Institute of Chartered Accountants: 8Zfdd`kd\ekkfi\[lZ`e^_`^_i\c`XeZ\feg\ijfeXc `eZfd\kXo\jXe[dXb`e^:XeX[Xdfi\`ek\ieXk`feXccp Zfdg\k`k`m\ KXoj`dgc`ZXk`fe`eZcl[`e^]lik_\ii\[lZk`fekfi\[kXg\ <ok\e[`e^I;Zi\[`ki\]le[XY`c`kpkfXccZfigfiXk`fej Efe\n`eZ\ek`m\jkfXjj`jk:XeX[`Xej`ejXm`e^]fi i\k`i\d\ekXe[&fii\[lZ\Zlii\ek[\YkcfX[j%
SUSAN BATSFORD, GRAPHICS EDITOR, TWITTER @SBATS1/QMI AGENCY

OVERALL GRADE