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?

A Referral that Really Paid Off:  Chris Valentine, ON,  Master Financial Advisor:

“We cannot hold a torch to light another’s path without brightening our own.”  Ben Sweetland

Employees who earn their living negotiating contracts for their employers or selling on commission may claim certain itemized sales expenses.  In all cases, however, receipt keeping is key; as is the availability of employer-signed Form T2200 Declaration of Conditions of Employment in case of audit.

A Federal budget date is expected soon after Prime Minister Trudeau and Finance Minister Morneau return from this week’s meetings with the new U.S. administration.

Which Canadian age group has the best credit scores?  Which has the worst?  What is yours and how can you improve it?  Knowing what is in your credit report is important.  If you have a poor credit history, it could be harder for you to get a credit card or a loan.  It could even affect your ability to rent a house or get hired for a job.

Several new tax filing changes should be noted by advisors working with Canadians who have assets in the United States or U. S. citizens living in Canada.