Federal Budget Review

Panoramic image of Parliament Hill, Ottawa

March 22, 2011

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Introduction

2011 Federal Budget Minister of Finance Jim Flaherty today tabled the 2011 Federal Budget (the “Budget”) entitled “A Low Tax Plan for Jobs and Growth”.  We are pleased to provide our summary of tax measures contained in the Budget. There...

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Business Tax Measures

IN THIS SECTION: Manufacturing and Processing Sector: Accelerated Capital Cost Allowance Clean Energy Generation Equipment: Accelerated Capital Cost Allowance Qualifying Environmental Trusts Intangible Capital Expenses in Oil Sands Projects Stop-Loss Rules on the Redemption of a Share Partnerships – Deferral...

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Customs Tariff Measures

IN THIS SECTION: Customs Tariff Simplification Facilitating Low Value Imports Customs Tariff Simplification The Federal Government announced the initiation of a process to simplify the Customs Tariff in order to facilitate trade and lower the administrative burden for businesses. This...

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Personal Tax Measures

IN THIS SECTION: Children’s Arts Tax Credit Volunteer Firefighters Tax Credit Family Caregiver Tax Credit Medical Expense Tax Credit for Other Dependants Child Tax Credit Eligibility Tuition Tax Credit – Examination Fees Education Tax Measures – Study Abroad RESPs –...

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Other Tax Measures

IN THIS SECTION: Aboriginal Tax Policy GST/HST Changes Aboriginal Tax Policy The Federal Government expressed its continued support of initiatives that encourage the exercise of direct taxation powers by Aboriginal governments including, in particular, the entering of  arrangements respecting sales...

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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 release: Legislation relating to measures announced in the March 2010 Budget (including...

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Charitable Sector Measures

Changes Affecting Charities and Non-Profits The 2011 Budget proposes numerous changes that will affect charities, qualified donees and other non-profits, and donors.  A summary of these changes is below.  For a more detailed review of these changes, see the Budget...

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