Last week, the sitting Liberal minority government, delivered it's 2022 budget, which will pass easily with the support of the NDP. As is the case with any government, it is easy to criticize the many shortcomings of a budget, but my only fear with respect to this one, is the extremely optimistic outlook for revenues in the future. Despite recent lessons that things don't always "just go up", the Canadian government seems hell bent on the idea that the revenue side of the ledger is so impenetrable, that the expense side can continue to be ignored. 

There are a few new items in this year's edition, most notably the introduction of the First Time Home Buyers registered savings account. Technically called the FHSA (First Time Homebuyers savings account), this new measure is like an RRSP and TFSA combined, but limited to those entering the market for a new home. I think the bigger question is "will this work considering uptake on the TFSA for those targeted is not as great as expected so why would this work?"

More on the budget can be found by clicking this link. I invite you to read the report, and look forward to your feedback. Feel free to follow up with us, with any questions you may have.