title: 1996 Canadian federal budget
text: # 1996 Canadian federal budget
  
  The Canadian federal budget for fiscal year 1996-1997 was presented by Minister of Finance Paul Martin in the House of Commons of Canada on 6 March 1996. It is the first Canadian federal budget that was identified with an unofficial subtitle: Securing the Future.
  
  ## Taxes
  
  ### Personal income taxes
  
  Incentives for investments in Labour-sponsored venture capital corporation (LSVCCs) are tightened:
  
  * The tax credit rate is cut to 15% from 20% ;
  * The maximum yearly credit is cut from $1,000 to $525 ;
  * Minimum holding periods to benefit from the LSVCCs credit is increased from 5 to 8 years.
  