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Capital Gains Inclusion Rate Change: Draft Legislation Released

Friday June 14, 2024

Earlier this week on June 11th, a ‘ways and means motion’ outlining draft legislation on the capital gains inclusion rate cleared the House of Commons. First introduced in the April budget and expected to be enacted this fall, this change to Canada's tax [...]

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2024 Federal Budget Commentary by Managing Partner Kalin McDonald

Tuesday May 28, 2024

In my opinion, the recent changes to the capital gains inclusion rate announced in the federal budget are problematic, and will negatively impact many more Canadians than the federal government has indicated. The changes have been advertised politically as only affecting “the 1%” [...]

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Ontario Made Manufacturing Investment Tax Credit: Potential Stumbling Blocks

Tuesday June 27, 2023

The Ontario Made Manufacturing Investment Tax Credit (OMITC) is a new refundable tax credit that allows qualifying Canadian Controlled Private Corporations (CCPC) to claim a 10% credit on eligible investments in buildings, machinery and equipment used for manufacturing or processing within Ontario. The [...]

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2022 Federal Budget Highlights and Commentary

Friday April 15, 2022

On Thursday April 7, the Honourable Chrystia Freeland presented the 2022 Federal Budget. Surprisingly, there were not a raft of tax changes, the capital gains inclusion rate (or effective capital gains tax rate) was not increased, and Federal budget deficits are projected to [...]

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The 2021 Federal Budget: a path to nowhere?

Tuesday April 20, 2021

The long-awaited 2021 Federal Budget was tabled yesterday and, in short, it disappoints. The Federal government is proposing a level of program spending unmatched in Canadian history and intends to borrow very, very heavily to pay for it. With an expected deficit of [...]

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Ontario Budget 2018

Wednesday April 4, 2018

On March 28, Ontario’s finance minister Charles Sousa tabled the budget. This is clearly an election campaign document, which bears little resemblance to the fall economic statement of a few months ago. While the operating budget for the year just ended projects a [...]

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FEDERAL BUDGET COMMENTARY

Wednesday February 28, 2018

The Federal Government’s 2018 Budget touts Canada’s strong economic growth over the past two years, including real GDP growth of 3.2 per cent since the second quarter of 2016, an unemployment rate of 5.9 per cent, and significant improvements in average weekly earnings, [...]

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2017 Ontario Budget Commentary

Friday April 28, 2017

Introduction Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017. The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017-18, 2018-19 and 2019-20. The Budget does not include any changes [...]

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Federal Budget Commentary 2017

Thursday March 23, 2017

The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution. Budget 2017 outlines only $200 million in net new spending, but [...]

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