From a small business perspective, Waters is also looking to see if the budget will advance a proposal that would introduce a $10M capital gains exemption on the sale of small businesses to an employee ownership trust. Given that the proposal was first mentioned in November’s Fall Economic St...
The 2024 federal budget: Bad news for medical professional corporationsDunne, CaitlinBritish Columbia Medical Journal
Budget 2024 projects a deficit of $39.8 billion in 2024-25, falling to $30.8 billion by 2026-27 and $20 billion by 2028-29. This would mean a deficit of 1.3% of GDP for 2024-25, declining to 0.9% by 2026-27 and 0.6% by 2028-29. Interest on debt is now projected to rise from...
Budget 2024 proposes to amend theExcise Tax Actto repeal the temporary zero-rating of certain face masks or respirators and certain face shields under the GST/HST. The temporary relief announced in the2020 Fall Economic Statementwas proposed to be in effect until the use of face coverings was ...
In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit – the gap between government revenue vs. spending – will be $1.9 trillion for the 2024 fiscal year. Thedeficit forecastis $400 billion higher than the CBO’s last estimate in ...
On Tuesday, 14 May 2024, Australian Treasurer Jim Chalmers will release the 2024-2025 federal budget. This budget is expected to address a range of issues, including investment in local manufacturing capability and economic...
Budget 2024 was released on April 16, 2024, and it contained several proposed changes to Canada’s tax system. Over the next several days, Dentons Canada’s Tax group will release several short pieces that highlight the changes and how they may impact ce
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On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the federal government’s budget. Read more about the tax initiatives proposed in the budget in our in-depth Tax Insights. Key highlights: Increases to the capital gains inclusion rate for all co...
The Federal Budget for 2024-25 has been released. Here is a snapshot of the proposed changes and what they could mean for you and your superannuation or retirement.