The key highlights from the 2025 federal budget include: Reduction of the lowest federal personal income tax rate for Canadians Expansion of trust 21 year anti-avoidance rules Provision of temporary immediate expensing for eligible buildings used for manufacturing and processing …
The key highlights from the 2024 federal budget include: Increase in capital gains inclusion rate from ½ to ⅔ Introduction of the Canadian Entrepreneurs’ Incentive to provide a tax break forentrepreneurs and increasing the lifetime capital gains exemption Softens the …
Please note this article was updated in January 2024. As of March 28, 2024, CRA has provided an administrative exemption for bare trusts from the trust reporting requirements for 2023. Further information will be provided by the CRA for future …
The 2023 federal budget did not make changes to federal personal or corporate tax rates. Instead, the budget broadened the scope of the “Alternative Minimum Tax” rules while increasing the exemption threshold in order to target high income earning individuals. …
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