FWD: 2009 Federal Budget Summary

On January 27, 2009, the Honourable Jim Flaherty, Minister of Finance, delivered what was easily the

most anticipated budget in recent years. From a tax initiatives perspective, there are few substantive

measures proposed in the Budget.

The private, owner-managed business is vital to the health and success of the Canadian economy and

we believe that the government fell short in providing significant tax relief to these taxpayers. In an

attempt to kick start the economy though, the Budget did allocate money to infrastructure spending and

included measures to strengthen credit for Canadian individuals and companies that require funds to

invest, grow and create new jobs. Unfortunately the cost of these spending measures will be massive

deficits in future years.

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