Federal Budget Review

Panoramic image of Parliament Hill, Ottawa

April 21, 2015

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Previously Announced Measures

The Budget confirms the Federal Government’s intention to proceed with the following previously announced tax and related measures, as modified to take into account consultations and deliberations since their announcement or release: (i)         Legislative proposals released on July 12, 2013,...

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International Tax Measures

IN THIS SECTION: Income Tax Withholding Requirements for Non-Resident Employers Streamlining Reporting Requirements for Foreign Assets (Form T1135) Captive Insurance Update on Tax Planning by Multinational Enterprises Update on the Automatic Exchange of Information for Tax Purposes Income Tax Withholding...

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Business Income Tax Measures

IN THIS SECTION: Small Business Tax Rate Small Business Deduction: Consultation on Active versus Investment Business Quarterly Remitter Category for New Employers Synthetic Equity Arrangements Tax Avoidance of Corporate Capital Gains Manufacturing and Processing Machinery and Equipment: Accelerated Capital Cost...

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Personal Income Tax Measures

IN THIS SECTION: Tax-Free Savings Account Minimum Withdrawal Factors for Registered Retirement Income Funds Registered Disability Savings Plan – Legal Representation Home Accessibility Tax Credit Lifetime Capital Gains Exemption for Qualified Farm or Fishing Property Repeated Failure to Report Penalty...

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Other Measures

IN THIS SECTION: Charities and Not-for-Profit Measures Aboriginal Tax Policy Charities and Not-for-Profit Measures The Budget includes a number of welcome proposals for donors and charities. Capital Gains Exemption Extended to Gifts of Private Shares and Real Estate Over the...

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Introduction

Minister of Finance Joe Oliver today tabled the 2015 Federal Budget (the “Budget”), his first budget as Minister of Finance, entitled “Strong Leadership: A Balanced-Budget, Low-Tax Plan for Jobs, Growth and Security”. We are pleased to provide our summary of...

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