Both Rob Carrick in The Globe and Mail and Andrea Gunn in The Chronicle Herald delivered insightful commentary about the recent federal budget. We have analyzed their respective interpretations carefully and offer the following as a digest of them both:
1. Canada Savings Bonds (CSBs), the public transit tax credit and the first-time donor’s super credit are toast. CSB sales will be discontinued this year and all outstanding bonds will be honoured. You won’t be able to claim a credit for transit use after June 30. The super credit, which offered a larger-than-usual tax credit for people making their first charitable donation, expires as planned this year.
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