2015 Federal Budget highlights from Sun Life Global Investments
April 28, 2015
The federal government tabled its fiscal blueprint for the 2015-16 fiscal year. Although low oil prices may be costing billions in revenue, the federal government has managed to balance its books on schedule - and with a modest surplus to boot.
Sun Life Global Investments and Sun Life Financial are providing tools to help understand some of the possible implications. Budget highlights include:
- A proposed increase to the TFSA contribution limit
- A proposed reduction to the RRIF minimum formula rates
- A proposed cut to the federal small business tax rate
- Proposed simplification of foreign property reporting (T1135 filings)
- A proposed break on real estate investment gains by donating to charity
We will continue to share 2015 Budget impacts with you as more information becomes available.
Please contact your Sun Life Group Retirement Services representative.