1998 Canadian federal budget explained

Budget of the Canadian Federal Government
Year:1998
Country:Canada
Previous Budget:1997 Canadian federal budget
Previous Year:1997
Next Budget:1999 Canadian federal budget
Next Year:1999
Presented:24 February 1998
Parliament:36th
Party:Liberal
Minister:Paul Martin
Total Revenue:165.520 billion
Total Expenditures:159.741 billion
Surplus:$5.779 billion[1]

The Canadian federal budget for fiscal year 1998–1999 was a presented by Minister of Finance Paul Martin in the House of Commons of Canada on 24 February 1998.[2]

Taxes

Personal income taxes

Despite no explicit mention in the budget itself, the Labour-sponsored venture capital corporation tax credit maximum yearly amount was increased from $525 to $750 starting in fiscal year 1998.[3]

External links

Notes and References

  1. Web site: Canada's deficits and surpluses, 1963-2014. CBC News. CBC/Radio-Canada. 25 April 2015.
  2. Web site: 25 February 1998. La Presse. live. https://web.archive.org/web/20200625023844/http://numerique.banq.qc.ca/patrimoine/details/52327/2185535 . 2020-06-25 . 2020-06-17. numerique.banq.qc.ca.
  3. Income Tax Budget Amendments Act, 1998. S.C.. 1999. 22. 49(4). https://www.parl.ca/Content/Bills/361/Government/C-72/C-72_4/C-72_4.pdf#page=78.