Canada budget 2023-24: key measures and proposals

OTTAWA, March 28 (Reuters) - Here are some of the key government measures and proposals outlined in the 2023-24 budget presented by Finance Minister Chrystia Freeland on Tuesday.

- Grocery rebate

A one-time grocery rebate, providing C$2.5 billion in

targeted inflation relief for 11 million low- and modest-income Canadians and families.

- Dental Care expansion

Proposal to introduce legislation to for a new dental care plan which will provide dental care to uninsured Canadians with family income less than C$90,000 annually.

- Taxing wealthy Canadians

Budget proposes legislative amendments to raise Alternative Minimum Tax (AMT) to 20.5% from 15%. Proposed reforms would also significantly increasing the income level necessary to pay the AMT.

- Right to repair

Government to work toward implementing a right to repair, aimed at making it easier and cheaper to repair home appliance and electronics.

- Standard charging port

Government to explore implementing a standard charging port in Canada for phones, tablets, cameras, laptops and other electronic devices.

- Lower credit card fees

Government has secured commitments from Visa and MasterCard to lower fees for small businesses, while also protecting reward points for consumers offered by Canada's large banks.

- Clean Electricity Investment Tax Credit

Proposal to introduce a 15% refundable tax credit for eligible investments in non-emitting electricity generation

systems, abated natural gas electricity-fired electricity generation, stationary electricity storage systems, and equipment for the transmission of electricity between provinces and territories.

- Clean Technology Manufacturing Investment Tax Credit

Proposal for a refundable tax credit equal to 30% of the cost of investments in machinery and equipment used to manufacture or process key clean technologies, and extract, process, or recycle certain critical minerals essential to clean technology supply chains.

- Crypto-assets

Canada's financial regulator will consult financial institutions on guidelines for publicly disclosing their exposure to crypto-assets. Ottawa will also require federally regulated pension funds to disclose their crypto-asset exposures to OSFI.

(Compiled by Ismail Shakil; Editing by Steve Scherer)

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Keywords: CANADA BUDGET/HIGHLIGHTS