POLITICS

Federal budget 2015: Highlights of Joe Oliver's fiscal plan

04/21/2015 04:18 EDT | Updated 07/14/2015 12:59 EDT
Finance Minister Joe Oliver has tabled his first federal budget in the House of Commons.

Here's a look at the budget's key points:

- $1.4 billion surplus this year, down from $6.4 billion projected a year ago and $1.9 billion in November.

- Economy expected to grow by 2 per cent this year.

- Annual contingency fund cut by $6 billion over next three years.

- TFSA annual limit raised to $10,000 from $5,500.

- Small business tax rate cut to 9 per cent from 11 per cent by 2019.

- Accelerated capital cost allowance for industry extended 10 years.

- $360 million this year to pay for Canada's mission against ISIS.

- Annual hikes of 3 per cent for National Defence, which has let billions in funds lapse in recent years.

- $18 million this year to fight terrorism – rising to $91 million in five years.

- $94.4 million over five years for cyber security.

- SIRC, the CSIS watchdog, sees budget doubled to $5 million.

- Seniors at age 71 can leave more money in tax-sheltered Registered Retirement Income Funds.

- EI compassionate care benefits extended to 6 months from current 6 weeks.

- Home Accessibility Tax Credit for home renovations for seniors and people with disabilities.

- $210 million over four years to celebrate Canada's 150th birthday in 2017.

- Interns will be brought under the Canada Labour Code.

- $1.1 million a year to promote Canadian seal products.

- $75 million to implement the Species at Risk Act for next three years.