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?

The Knowledge Bureau Faculty have been busy with the media this tax season. Here is a round up of recent media mentions!

Tax Audit Season – June to December – begins soon, and tax professionals need to know how to respond to requests for post-filing information to set up the best defence in case of appeal. See the full agenda for this May's Distinguished Advisor Workshop, coming to a city near you.

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More and more, Canada/U.S. cross border transactions make an impact during tax time, and advisors must understand how cross border taxation issues such as residency, snowbirding, and Canadian and U.S. investments, will impact their clients' tax returns. Free trial available!

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The Bank of Canada’s regional offices conducted summary interviews with senior managers of about 100 different firms representing a snapshot of Canada’s gross domestic product in order to gain a clear perspective of the future of economic activity in the country.