2022 Federal budget

Encouraging affordable housing and sustainability

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PwC’s federal budget analysis

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.

Key highlights:

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

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2022 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 that summarizes its impacts.

Past budgets

2021 Federal, Provincial and Territorial budgets2020 Provincial and Territorial budgets

	Alberta February 24, 2022
	British Columbia February 22, 2022 • Tax Insights
	Manitoba April 12, 2022
	New Brunswick March 22, 2022
	Newfoundland and Labrador April 7, 2022
	Nova Scotia March 29, 2022 • Tax Insights
	Ontario April 28, 2022 • Tax Insights

	Prince Edward Island February 24, 2022
	Quebec March 22, 2022 • Tax Insights
	Saskatchewan March 23, 2022
	Northwest Territories February 22, 2022
	Nunavut May 26, 2022
	Yukon March 3, 2022