Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

Did you know that you can save a bundle if you register for two or more of the upcoming CE Summits?

Brian Dunn, CPA, CMA, from Calgary, AB, shares his thoughts about the T1 Professional Tax Preparation – Basic course:

The federal government is on the hunt for new tax revenue from Canada’s small businesses, mainly because of an erosion of the personal tax base and a significant shift of taxable income to the corporate tax base instead.

In July, we asked you to vote on the following question: Does CRA do enough to ensure Canadians understand income tax and GST/HST implications of flipping personal residences? (For example, taxable dispositions require repayment of new housing rebates.)

We may be in the dog days of summer, but before you know it teachers will be planning for the fall of 2017, and in the process may be spending their own money to buy new school supplies.

The Canada Child Benefit (CCB) and Goods and Services/Harmonized Sales Tax Credit (GSTC) are both calculated based on net family income from the prior tax year.