Federal Budget Review

Panoramic image of Parliament Hill, Ottawa

March 22, 2017

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Introduction

On March 22, 2017, Minister of Finance Bill Morneau tabled the 2017 Federal Budget entitled “Building a Strong Middle Class” (the “Budget”). As is often the case, there was much speculation regarding the Budget, both with respect to how the...

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International Tax Measures

International Tax The Budget has only 1 proposed income tax change in the area of international tax. This relates to foreign branches of Canadian resident life insurers. As such, the proposed change is not applicable, and probably not of interest...

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Business Income Tax Measures

In this section: Investment Fund Mergers Investment Tax Credit for Child Care Spaces Insurers of Farming and Fishing Property Billed-Basis Accounting Clean Energy Generation Equipment:  Geothermal Energy Canadian Exploration Expense:  Oil and Gas Discovery Wells Reclassification of Expenses Renounced to...

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Personal Income Tax Measures

In this section: Disability Tax Credit – Nurse Practitioners Tuition Tax Credit Medical Expense Tax Credit – Eligible Expenditures Consolidation of Caregiver Credits Electronic Distribution of T4 Information Slips National Child Benefit Supplement Home Relocation Loans Deduction Anti-Avoidance Rules for...

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GST/HST Tax Measures

In this section: Taxi and Ride Sharing Services Rebate to Non-Residents for Tour Package Accommodations Opioid Overdose Treatment Drug – Naloxone Tobacco and Alcohol Taxes Taxi and Ride Sharing Services The Budget proposes to extend the application of the GST/HST...

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Other Measures

In this section: Aboriginal Tax Policy Customs Tariff and Special Import Measures Aboriginal Tax Policy In successive budgets since 1997, the Federal Government has expressed its willingness to put into effect taxation arrangements with interested Aboriginal governments. To date, the...

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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: Measures announced on October 3, 2016 to improve fairness in...

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