Although Budget 2024 did not increase federal corporate or personal tax rates under theIncome Tax Act(Canada) (Tax Act), significant tax measures were announced in Budget 2024 aimed at addressing the federal government’s (Government’s) theme of tax fairness, notably: increasing the capital gains...
which sets out the federal government’s revamped spending priorities and tax plans (the “2024 Budget”). The theme of the 2024 Budget is “fairness for every generation” with the general intention being to make life more affordable for Canadians – especially young Canadians. The...
of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. ...
In theory, that could give Ottawa some modest wiggle room to introduce new programs without adding further to the deficit, but the government seems to be going out of its way to downplay expectations. “The Finance Minister has essentially said in recent weeks that this budget is going to he...
The Canadian federal government unveiled itslatest budget this week, and includes welcome news for students pursuing a master's degree or beyond:federal scholarship values will INCREASE! Budget 2024 promises$825 million, over five years, for grad student scholarship supports, ...
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.
April 17, 2024 On April 16, 2024, the federal government introduced Budget 2024: Fairness for Every Generation. The Budget contains tax measures aimed at generating increased tax revenue from wealthier Canadians. The federal government believes that this will make the tax system more "fair". The...
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 ...
The Federal Government is hopeful that AI research, development and deployment stand to spur significant economic growth, and that Canada is uniquely positioned to seize these opportunities. Consequently, the investments proposed in Budget 2024 are intended to foster innovation, drive ...
The federal government will put $16 million over the next two years into safe sport and $15 million into removing barriers to community sport programs The Canadian Olympic Committee and Canadian Paralympic Committee had asked for $104 million in this year’s federal budget for 61 national sport...