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Spacer It's finally official ...

The budget bill (Bill C-43) finally became law on June 28, 2005 as it received Royal Assent by the Governor General at 5:30 p.m.

As the rules eliminating the foreign content limit are now effective as of January 2005 any penalties you may have accrued for being in excess of the 30% limit during 2005 will be reversed and will not appear on your statements.

Though the elimination of the foreign content limit rule was the most celebrated of the bill’s proposals, the 2005 budget also contained other good news, including:

  • Increased RSP contribution limits
  • Slightly higher personal and spousal tax credits
  • Assistance for persons with disabilities
  • Some tax relief for corporations

If you have any questions, please do not hesitate to contact an Investment Advisor for more information.


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