Alongside the big-ticket items in the federal budget, there are some perks for artists, hockey players and those who send mail the old- fashioned way.
Here are six things you need to know right now.
1) Stamp prices jump nearly 40 per cent
Trying to stem losses at Canada Post, the Crown corporation will increase the price of a stamp from $1.44 to $2, a jump of nearly 40 per cent. Stamp prices will then rise by seven per cent annually.
2) Free admission to national museums for people under 25
The government is renewing the Canada Strong Pass, which provides free access to national museums for people under the age of 25. Extending the program to institutions including the Canadian Museum of History, the Canadian Museum of Nature, the Canadian Museum for Human Rights and the National Gallery of Canada will cost more than $500 million over the next five years.
3) Billions for rinks and recreation centres
The federal government is earmarking $1.5 billion over nine years for recreational facilities, including $750 million for ice rinks and $750 million for recreation centres.
“We will also revitalize the arenas and rinks where generations of Canadians have learned to skate, play, and dream,” Finance Minister Francois-Phillippe Champagne said in prepared remarks from his budget speech.
4) New tax credit for artists
The budget introduces additional tax relief for artists through a new Canada Creative Credit. The government says artists could claim up to $45,000 in non-refundable personal income tax credits when combined with the basic personal exemption.
Ottawa says the measure is intended to support artists and foster creativity.
5) Tax debts could affect credit ratings
Canadians who owe more than $50,000 to the Canada Revenue Agency could see their credit ratings affected.
The government plans to amend the Income Tax Act to allow the CRA to report tax debts above that threshold to credit reporting agencies.
6) GST/HST exemption for massage therapists
Massage therapists will no longer be required to charge GST/HST on their services under a new tax exemption included in the budget.
