Encouraging affordable housing and sustainability
On April 7, 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.
The Canada Recovery Dividend, a one-time 15% tax on banks and life insurers, and a proposed additional 1.5% tax on banking and life insurer groups
A refundable tax credit for carbon capture, utilization and storage, and the Critical Mineral Exploration Tax Credit
A public consultation on the Canadian implementation of OECD model rules that introduce a global minimum tax (Pillar Two) for large multinational enterprises
The Tax-Free First Home Savings Account, a new registered account for first-time homebuyers, and a doubling of the First-Time Home Buyers’ Tax Credit
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 that summarizes its impacts.