News

Tax-exempt sperm and eight different extraordinary highlights from federal finances 2022


Here are the sections of the 2022 federal finances many others may overlook

Article content material

The Canadian federal authorities spends roughly $1 million each 60 seconds. So each finances day it’s inevitable that some line gadgets are going to get ignored. Below, the National Post’s Tristin Hopper ventured into a few of the extra simply forgotten sections of Budget 2022.

Advertisement 2

Article content material

Tax-exempt sperm

It’s no secret that Canadians aren’t nice at having infants. At the final depend, our delivery fee was about 1.5 infants per girl, effectively beneath the speed wanted to maintain our present inhabitants. The regular treatment for that is merely to welcome extra immigrants, which Canada has been doing to the tune of practically 400,000 new Canadians per yr. But Budget 2022 additionally included a set of tax credit on the home baby-making business. Specifically, tax credit on surrogate moms, in-vitro fertilization and bills associated to sperm or ova donation.

Itty-bitty nuclear reactors

For a authorities that by no means stops speaking about decreasing carbon emissions, the Liberals are recognized for conspicuously avoiding any point out of nuclear energy. That appeared to alter in Budget 2022, with a piece outlining plans to show Canada into a worldwide heavyweight for the manufacturing of “small modular reactors” – principally, a nuclear energy plant that may be loaded onto the again of a truck. Natural Resources Canada bought $70 million to analysis tiny reactors, and the Canadian Nuclear Safety Commission bought $50 million to review how to ensure they don’t blow up.

Advertisement 3

Article content material

A wine tax that the feds truly tried actually onerous to keep away from

Deep in Budget 2022 is the uncommon instance of a tax that the federal authorities strenuously tried to not impose. Canada slaps a 52 cent-per-bottle excise tax on wine, however the tax doesn’t apply if the wine is Canadian-made. This incensed the remainder of the wine-making world (significantly Australia), who took the difficulty to the World Trade Organization to have Canada’s “protectionist” wine tax overturned. The Australians received, so beginning this yr that bottle of B.C. shiraz goes to ship half a greenback to the federal treasury.

Cheaper near-beer

Advertisement 4

Article content material

For years, alcohol-free wine and spirits have been freed from the federal excise tax; the federal government treats them no completely different than different non-alcoholic drinks like juice or soda. But for some cause no person fairly remembers, near-beer like O’Doul’s has nonetheless been slapped with the excise tax simply the identical as alcoholic beers. Budget 2022 fixes that oversight, and you’ll give partial credit score to NDP MP Richard Cannings, who championed this challenge in a non-public member’s invoice final month.

Sending a Canadian to the moon (kind of)

Canada was already signed on as a accomplice for Lunar Gateway, a NASA-led plan to place a manned house station in orbit across the moon. Just like we did with the Space Shuttle and the International Space Station, Canada promised to construct a robotic arm for the factor. In trade, says Budget 2022, a Canadian would be capable to safe a seat aboard this system’s first flight into lunar orbit, which “will make Canada just the second country to send a human to deep space.”

Advertisement 5

Article content material

A extremely, actually costly outdated shipwreck

Buried deep within the appendices of Budget 2022 is a chilling saga of an obvious cash pit sunk deep within the waters of Canada’s Pacific Coast. In 2020, a mysterious gasoline slick in Nootka Sound was traced to the wreck of the MV Schiedyk, a cargo ship that sank in 1968. At the time, the feds estimated that the price to suck any remaining diesel gasoline out of the Schiedyk would value about $6 million. A line merchandise within the newest finances reveals that value as having ballooned to $33 million – a rise of greater than 400 per cent.

More cash for the dairy cartel

Remember provide administration? The federal program that imposes a latticework of import and agricultural controls with a purpose to artificially restrict the manufacturing of eggs and milk in order that they’re dearer? Don’t fear, as a result of that sector can even be getting an enormous chunk of taxpayer cash as effectively. As Canada expands its participation in free commerce agreements just like the Trans-Pacific Partnership, one of many results has been that international cheese producers have been granted freer rein to promote their product to Canadians. Lest the dairy sector be pressured to compete in opposition to these cheaper international merchandise, the feds have paid out $2.7 billion in compensation to this point, and promised much more in Budget 2022.

Advertisement 6

Article content material

A $237.2 million rail bypass round Lac-Mégantic

It’s been 9 years since an oil prepare exploded within the centre of Lac-Mégantic, Que., killing 47 individuals. Only three years after the catastrophe, freight trains as soon as once more had the inexperienced mild to cross via the city. And with the U.S. now actively demanding extra Canadian oil regardless of kiboshing the pipelines to hold it, oil-by-rail shipments are more likely to rise. Budget 2022 consists of $237.2 million to make sure that no matter hits the rails, at the very least it received’t be going via Lac-Mégantic once more; by 2028 a rail bypass is anticipated to be accomplished that might enable the neighborhood to fully banish trains from its city centre.

My god the platitudes

Once upon a time, finance ministers handed over some spreadsheets to the press, gave a speech within the House of Commons and that was that. Paul Martin’s well-known 1993 finances – the primary of a collection prescribing deep slashes to the deficit – was a terse, no-nonsense 94 pages. But Budget 2022, like a lot of its Trudeau Government predecessors, is almost 300 pages of platitudes, soliloquies, and buzzwords. Some examples …

“Everyone should have a safe and affordable place to call home.”

“In Canada, diversity is a fact.”

“Canada has been a steadfast defender of the rules-based international order.”

“The global economy is changing.”

Advertisement

Comments

Postmedia is dedicated to sustaining a vigorous however civil discussion board for dialogue and encourage all readers to share their views on our articles. Comments could take as much as an hour for moderation earlier than showing on the positioning. We ask you to maintain your feedback related and respectful. We have enabled e-mail notifications—you’ll now obtain an e-mail in the event you obtain a reply to your remark, there may be an replace to a remark thread you observe or if a person you observe feedback. Visit our Community Guidelines for extra info and particulars on how you can regulate your e-mail settings.



Source hyperlink

Leave a Reply

Your email address will not be published.

close