The first budget introduced by the Conservative government in Ottawa included several new provisions. The following list is a reminder of some of the tax issues to watch for in 2006 and/or 2007.

• Canada employment tax credit
• Capital gains exemptions for individuals in the fishing industry
• Tradespeople’s tool expenses
• Textbook tax credit
• Children’s fitness tax credit
• Pension income credit
• Child disability credit
• Refundable medical expense supplement
• Tax credit for public transit passes
• Donations of publicly listed securities to charities
• Donations of ecologically sensitive land
• Enhanced dividend tax credit

There were also changes to personal tax rates and the basic personal amount credit.

Please contact your accountant at Harvey, Lister & Webb Incorporated to discuss the possibilities.

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