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?

Facilitate estate planning solutions tailored to your clients’ situations. Enrol in Use of Trusts in Tax and Estate Planning.

Join us in the beautiful Texas Hills for the Distinguished Advisor Conference, November 9-12, 2014. Think strategically with succession planning experts and top wealth advisors. Experience education differently at DAC!

When Finance Minister Joe Oliver announced on April 28 that the Government of Canada would issue $1.5 billion in first-of-a-kind 50-year bonds, maturing on December 1, 2064 with a yield of 2.96 per cent, he hoped for strong demand and the placement of at least $750 million.

The Tax Court of Canada (TCC) recently had to decide whether a taxpayer who attended a “university outside Canada” qualified to claim the tuition fee tax credit, under paragraph 118.5(1)(b) of the Income Tax Act (the Act).

As provinces in Canada attempt to add surtaxes to top earners in Canada, the most recent being Ontario in its defeated May 1 budget, a debate on whether top incomes should be subject to more tax continues. 

Don't miss the one-day May Distinguished Advisor Workshop in a city near you May 21-June 3. The theme is CHANGE...change in relations with CRA and change within the family as clients copy with life transitions. How can you be the best advocate and steward for your client? Earn 10 CE/CPD credits – register today!