Ontario’s Liberal government delivered its first balanced budget in a decade yesterday.
Now before you get too excited, know that we are still in the red. Net debt continues to grow and could reach $312 billion this fiscal year and rise by $24 billion by 2019-20. That being said, the Liberals expect to balance the next two budgets as well.
What part of the budget has people talking? Definitely the part about free drugs for kids.
That is to say…..there will be FREE prescription drug coverage for anyone under 25 years old. Anyone. It’s not tied to family income. To learn more about the OHIP+ program, click HERE.
What else…..hmmmmm?????……Oh yeah! There will a new tax credit for seniors who use public transit. If you’re 65 or over, you’ll be able to claim 15 per cent of eligible transit expenses, up to $130 a year.
But if you smoke cigarettes….you might not like this next one. Tobacco taxes are on the rise!!!
The tax on a carton of cigarettes will go up $10 over the next three years. The first $2 increase is already in effect, as of today!
I know someone who is going to be really mad about this one!!! #DartMan
Those are the highlights.
Oh wait, one more thing!
The Liberal government is giving municipalities the authority to introduce a hotel tax.
If you read this and feel informed, great! If not, click HERE to read more.