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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.