Keeping Canada's Economy & Jobs Growing Act Receives Royal Assent

The Minister of Finance Canada welcomed the Royal Assent of the Keeping Canada's Economy & Jobs Growing Act. Included in the Act are provisions to: 

  • Provide a temporary Hiring Credit for Small Business to encourage additional hiring
  • Eliminate the mandatory retirement age for federally regulated employees in order to give older workers wishing to work the option of remaining in the workforce
  • Enhance the Wage Earner Protection Program to cover more workers affected by employer bankruptcy or receivership
  • Introduce a new Family Caregiver Tax Credit to assist caregivers of all types of infirm dependent relatives
  • Remove the limit on the amount of eligible expenses caregivers can claim under the Medical Expense Tax Credit in respect of financially dependent relatives
  • Help apprentices in the skilled trades and workers in regulated professions by making occupational, trade and professional examination fees eligible for the Tuition Tax Credit
  • Make it easier to allocate Registered Education Savings Plan assets among siblings, without incurring tax penalties or forfeiting Canada Education Savings Grants.