Information For consumers
Information for Businesses
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Ottawa, June 30, 2006
Canada’s New Government Provides Substantial Tax
Relief Beginning July 1
The Honourable Jim Flaherty, Minister of Finance, reminded
Canadians of tax changes that will take effect July 1, 2006.
"In Budget 2006, Canada’s new government introduced more
than $26 billion in tax relief over the next two years, of which
over 90 per cent will go to individuals," Minister Flaherty said.
Effective July 1:
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Working Canadians will become eligible for the Canada Employment
Credit on up to $500 of annual employment income to help pay the
additional costs of employment—costs for things like uniforms,
computers or safety gear. Next year, the amount of employment
income eligible for the credit will increase to $1,000.
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Excise duties are reduced on the first 75,000 hectolitres of
Canadian-produced beer. All Canadian brewers will enjoy excise
duty savings of about $2.30 on a 24-pack of 341 ml bottles on
their first 2,000 hectolitres of production per year.
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For further information, media may contact:
Dan Miles
Director of Communications
Office of the Minister of Finance
613 996-7861
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David Gamble
Media Relations
Department of Finance
613 996-8080
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