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?

“Taxes should not wag the investment dog,” says Michelle Connolly. Nor, she adds, should investment decisions ignore potential tax consequences.

Canada’s ranking in the World Economic Forum’s Global Gender Gap Index has slipped, to 21 in 2012 from 18 in 2011.

The Canada Revenue Agency (CRA) has had enough of gifting tax shelter schemes and is taking action.

If early retirement — enforced or chosen — is in the cards, take advantage of employer-provided pre-retirement counseling. This tax-free benefit can save you money.

If you are disputing a re-assessment of your income tax filing with the Canada Revenue Agency (CRA), failing to choose the appropriate appeal procedure can prove very costly.

Look for slower growth in gross domestic product (GDP) in 2013 before it picks up again in 2014, say private-sector forecasters.