Canada Federal Budget Summary 2023
Budget 2023 proposes to provide flexibility in the context of intergenerational transfers. Specifically, it proposes that taxpayers who wish to undertake a genuine intergenerational share transfer may choose to rely on one of two transfer options: An immediate intergenerational business transfer based on arm’s length sale terms, requiring that the parent immediately give up both de […]
Trudeu Pickpockets Canadians with New Taxes
“Canadians are struggling with generational highs in inflation. Trudeau thinks this is the right time to take more from you in taxes to pay for his out-of-control spending.” Read the discussion on Instagram
Budget 2023 offers billions for dental care, plus spending cuts and tax hikes to tame deficit
Finance Minister Chrystia Freeland tabled a federal budget Tuesday projecting a deficit about $10 billion higher than initially forecast — an increase driven by a worsening economy and new spending on initiatives like a national dental care program. Freeland’s fiscal plan projects the deficit will be $40.1 billion in 2023-24 — up from the $30.6 […]
2023 Federal Budget Highlights
The budget expects a deficit of $43 billion for 2022-23 and forecasts deficits of $40.1 billion for 2023-24, and $35 billion for 2024-25. Although the budget does not change the federal personal or corporate tax rates, it does make new changes to broaden the Alternative Minimum Tax (AMT) by disallowing certain deductions and increasing the […]