Finance Canada: No More Spring Budgets

Finance Canada announced on October 7 that Canada’s federal budgets will be brought down in the fall starting with the November 4, 2025 event; a significant departure from the spring schedule (February, March or April) that has been the cycle for several decades. This is going to affect many other events as we know them, and in the annual government spending approval cycle. There will also be a new budget process for capital vs. operational expenses. Here’s what you need to know:

Three important initiatives were announced by Finance Canada this week:  a US-dollar denominated global bond issue and second, more significantly the launch of North America’s first trading hub using Chinese currency, the renminbi or RMB, which is poised to take a leading position as a global trading currency, after the US Dollar and the Euro.

As of March 1, 2015 just over three million personal tax returns had been received by CRA and not surprisingly, only 13% of these returns were paper-filed – everything else was filed with CRA electronically. 

The agenda for the June Distunguished Advisor Workshop (DAW) is starting to fill up.... have you filled out your application form yet?

Saskatchewan Finance Minister Ken Krawetz brought forward the 2015-2016 budget for the province March 18 and as expected announced a surplus.

As a professional, you can work the room like a professional.

If you have been shocked to find a balance due rather than a refund, be sure to file your return before midnight April 30 to avoid late filing penalties. This is an important first step in keeping more money, even if you can’t pay your bill immediately.