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The Budget 2008 is now online .. labelled “Responsible Leadership”

A new savings program that will allow Canadians to put aside up $5,000 annually — tax free forever — is being trumpeted by Flaherty as the “single most important personal savings vehicle since the introduction of the RRSP.” - The Winnipeg Sun

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The following News Release or Speech has just been posted on the Finance Canada Site.

Ottawa, February 25, 2008
2008-020

The Honourable Jim Flaherty, Minister of Finance, said an annual International Monetary Fund (IMF) report highlights the flexibility of the Canadian economy in adjusting to adverse shocks and notes that our strong fiscal situation puts Canada in an enviable position to take on the economic challenges ahead.

“The IMF report shows Canada is an economic leader, and our government is taking steps to ensure continued growth in the face of uncertainty,” said Minister Flaherty.

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If you want to follow me - I’m “PetLvr” … or, twitter.com/PetLvr

Also .. I’m using the application from twhirl.org …it’s just like any other chat program (MSN Messenger, Google Talk, etc) and much better than the web interface

I work in my home, on the second floor. During the summer, it gets too hot - because heat rises. In the winter, it’s quite the opposite - I’m freezing! We keep our natural gas fireplace on most of the time, and the thermostat is on the main floor. In order to bring heat up to the second floor, the main floor has to either turn into a furnace .. (which, I don’t mind) .. or we have to spend money redoing our heating system and maybe even consider dual furnaces and the like!

So .. I have been using a “Space Heater” for the past 4 years. Last week - it died on me! I finally moved up from the cheaper $19.99 space heater to the $59.99 model at Canadian Tire, although with the accumulated Canadian Tire Dollar money I have .. it only cost me $35.00. This is FAR WAY SUPERIOR than the other one, and oscillates nicely to keep my legs warm, and my office in my home comfortable to work in. If you are looking for a heater for under your desk - and I know how confusing that can be with all the choices - I would recommend you try the one I’ve got pictured below!

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I’ve added a new powerpoint slideshow to my … “1-800-HART’s PowerPoint Slideshow Page”

Best Pictures On The Internet - 2007 Awards

Reader Voted pictures from WhatATop.com for 2007 compiled into one powerpoint slideshow

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The following News Release or Speech has just been posted on the Finance Canada Site

Ottawa, February 19th, 2008
2008-015

The Department of Finance today released its annual Tax Expenditures and Evaluations report. The report provides estimates and projections of the revenue impacts of all special federal tax measures designed to support the economic and social priorities of the Government. The revenue estimates and projections in the report reflect all tax changes announced to date, including the following changes from Budget 2007 and the 2007 Economic Statement:

* Reducing the goods and services tax rate to 5 per cent from 6 per cent.

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I must say .. this is the first time I’ve seen this method .. Hmmm - could be useful! Although, for client’s Income Tax Preparation .. I’ll probably just stick to my calculator!

SOURCE: 5 Min Life Videopedia

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The following is now available on the CRA Web site:

The Canada Revenue Agency (CRA) wants you to know about the following changes in the 2007 individual income tax and benefit return:

Lowest tax rate – The lowest tax rate has been reduced to 15% for 2007. This rate also applies when calculating federal non-refundable tax credits.

Federal non-refundable tax credits – The following changes have been made to the amounts used in calculating your federal non-refundable tax credits:

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The following is now available on the CRA Web site:

Did you know…

That low-income individuals and families can now claim the Working Income Tax Benefit (WITB)? The annual maximum amount for a single individual with no dependants is $500 and for families (including couples with or without children, and single parents) is $1,000 (amounts may vary for residents of British Columbia, Nunavut, and Quebec). In addition, starting in January 2008, eligible individuals and families can apply for the WITB advance payment.

To find out if you are eligible for the WITB, visit www.cra.gc.ca/witb or call 1-800-959-8281.
Related documents:

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The following News Release or Speech has just been posted on the Finance Canada Site.

Ottawa, February 14th, 2008
2008-013

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Stockwell Day, Minister of Public Safety, today announced the publication of final regulations in the Government’s ongoing efforts to make Canada an unwelcome place for money laundering and terrorism financing.

“Canada is in this fight for the long haul,” said Minister Flaherty. “We have gone to great lengths to strengthen our regime in line with international standards, and we will continue to strive to make Canada a world leader in this arena.”

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