2024 Federal budget

Supporting housing, raising taxes

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PwC Canada's Federal budget analysis

On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the federal government’s budget. Read more about the tax initiatives proposed in the budget in our in-depth Tax Insights.

Key highlights:

  • Increases to the capital gains inclusion rate for all corporations and trusts and for individuals with annual gains >$250,000
  • Confirmation of the alternative minimum tax (AMT) proposals affecting high-income individuals, but with amendments to the AMT treatment of charitable donations 
  • Design and implementation details for the clean electricity investment tax credit
  • Incentives for certain purpose-built rental housing, including accelerated capital cost allowance and interest deductibility relief for debt incurred to fund its construction or acquisition
  • Support for innovation through immediate expensing for the costs of certain patents and computer equipment and software

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Illustration of people stacking money

2024 Provincial and Territorial budgets

The release dates for provincial and territorial budgets are noted. If the budget announces significant tax measures, we will also prepare a Tax Insights publication to summarize them.

February 29, 2024 • Tax Insights                              
British Columbia
February 22, 2024 • Tax Insights
April 2, 2024 • Tax Insights
New Brunswick
March 19, 2024
canada-flags-nl.png Newfoundland and Labrador
March 21, 2024
Nova Scotia
February 29, 2024
March 26, 2024 • Tax Insights
Prince Edward Island
February 29, 2024                                      
March 12, 2024 • Tax Insights
March 20, 2024 • Tax Insights
Northwest Territories
May 24, 2024
February 26, 2024
March 7, 2024

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Dean Landry

Dean Landry

National Tax Leader, PwC Canada

Tel: +1 416 815 5090