Federal Budget Review

Panoramic image of Parliament Hill, Ottawa

February 11, 2014

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Previously Announced Measures

Budget 2014 confirms the 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 release: Proposed changes to automobile expense deduction limits and the prescribed rates...

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Business Income Tax Measures

IN THIS SECTION: Remittance Thresholds for Employer Source Deductions Tax Incentives for Clean Energy Generation Consultation on Eligible Capital Property Remittance Thresholds for Employer Source Deductions Employers have an obligation to withhold amounts from remuneration paid to employees in respect...

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Personal Income Tax Measures

IN THIS SECTION: Adoption Expense Tax Credit Medical Expense Tax Credit Search and Rescue Volunteers Tax Credit Extension of the Mineral Exploration Tax Credit for Flow-Through Share Investors Farming and Fishing Businesses Tax Deferral for Farmers Amateur Athlete Trusts Pension...

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International Tax Measures

IN THIS SECTION: Captive Insurance Companies Offshore Regulated Banks Back-to-Back Loans Consultation on Tax Planning by Multinational Enterprises Consultation on Treaty Shopping Update on the Automatic Exchange of Information for Tax Purposes Update on Tax Treaties and Tax Information Exchange...

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Sales and Excise Tax Measures

IN THIS SECTION Improving the Application of the GST/HST to the Health Care Sector GST/HST Election for Closely Related Persons Joint Ventures Strengthening Compliance with GST/HST Registration Other Excise Measures   Improving the Application of the GST/HST to the Health...

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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 2014 Budget introduced several changes and developments that are of particular relevance to registered charities, their donors and not-for-profit organizations (NPO); these include: Enhanced tax...

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Customs Tariff Measures

IN THIS SECTION Customs Tariff Treatment of the Governor General Support of Offshore Oil and Gas Development Customs Tariff Treatment of the Governor General Currently, articles imported for use by the Governor General are exempt from customs duties. The Governor...

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Introduction

Minister of Finance Jim Flaherty today tabled the 2014 Federal Budget (the “Budget”) entitled The Road to Balance: Creating Jobs and Opportunities. We are pleased to provide our summary of proposed tax measures contained in the Budget. There were no...

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