7 things PMAC wants in the Liberals’ first budget

The Liberals are expected to deliver their first federal budget in the next two months, and PMAC wants tax reforms, pension plans and progress on a national regulator to be on the agenda.

Read: Should the government nix flow-through shares?

In pre-budget consultations, the association has asked Finance Minister Bill Morneau to:

• Treat CPP contributions as tax deductions versus tax credits;
• Increase RRSP contribution limits by 20%;
• Work collaboratively with the Province of Ontario to delay the implementation of the Ontario Retirement Pension Plan (“ORPP”) until Federal/Provincial discussions are concluded on potential CPP reform;
• Provide tax incentives for participation in the Pooled Registered Pension Plan (“PRPP”);
• Provide Tax Incentives to Encourage Saving and so Employers Increase Their Benefit Levels (Retirement Programs);
• Eliminate GST/HST on the fees for managing retirement savings and pensions; and
• Continue progress on the Cooperative Capital Markets Regulator.

For details on each of their recommendations, view PMAC’s full budget submission here.

Also read:

Wealthy Manitobans facing tax hike

Quebec expected to balance budget

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