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March 1, 2022 update

Information is accurate as at 3:00 p.m. EDT. Information may be affected by subsequent announcements.

Links to government announcements follow at the end of the update.

Tax updates:

  • Canada - Annual report on federal tax expenditures released: The Department of Finance released its annual estimates of the fiscal cost of federal tax measures. This year’s report contains four analytical papers, including an economic evaluation of the federal government’s emergency wage subsidy programs, which had been recommended by the Office of the Auditor General. 

  • Alberta - Budget released: The Alberta government released its budget for 2022‑23, projecting a surplus of approximately $500 million. The budget does not change corporate or personal income tax rates, but does propose legislative amendments that will require online marketplaces to collect and remit the tourism levy on behalf of their Alberta short‑term rental hosts (additional details to be provided when the legislation is released in 2022). Instead of implementing a stand-alone provincial vaping tax, the Alberta government will work with the federal government to develop a coordinated taxation approach to taxing vaping products.

  • Prince Edward Island - Budget released: The PEI government released its budget for 2022‑23, projecting a deficit of approximately $93 million. The budget does not change corporate or personal income tax rates, but does increase the province’s basic personal amount from $11,250 in 2022 to $12,000 in 2023. It also proposes a tax on vaping products and increases taxes on tobacco products. 

Other updates:

  • Alberta - Public health restrictions relaxed: Alberta entered step two of its reopening plan on March 1, 2022. In step two, most restrictions are lifted, except that (i) the requirement to wear a face mask will remain in effect in high‑risk settings, including on public transit and at healthcare facilities; and (ii) self‑isolation and quarantine rules remain in effect.

  • New Brunswick - Public health restrictions relaxed: Effective February 28, 2022, proof of vaccination against COVID‑19 is no longer required to access businesses and other public places. All remaining restrictions will be lifted on March 14, 2022.

  • Northwest Territories - Public health restrictions relaxed: Effective March 1, 2022: (i) the Proof of Vaccine (PVC) program for businesses has ended; (ii) capacity limits for gatherings are lifted; (iii) the requirement to self‑isolate after travelling outside the territory is lifted; and (iv) any person is permitted to enter the NWT regardless of purpose or COVID‑19 vaccination status.

  • Northwest Territories - Public health emergency extended: The territorial public health emergency is extended until March 15, 2022.

  • Yukon - Public health restrictions relaxed: Effective March 4, 2022, most public health restrictions will be lifted, except for the following: (i) the mandatory use of masks in all indoor public places and outdoor public settings where physical distancing cannot be maintained; (ii) the requirement for all Yukon government workers and volunteers to be vaccinated against COVID‑19; and (iii) the requirement (for people 19 years of age and older) to show proof of vaccination against COVID‑19 to access most indoor public places.

Links to government announcements:

Contact us

Dean Landry

CPA, CA, CFP, National Tax Leader, Toronto, PwC Canada

+1 416 815 5090

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Shawn Reain

CPA, CA, National Tax Markets Lead, Compliance.Transformed leader, Partner, Calgary, PwC Canada

+1 403 509 6373

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Kent Smith

Partner, Ottawa, PwC Canada

+1 613 755 8742

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Éric Labelle, LL.L.

LL.L, Quebec Tax Markets Leader, Montreal, PwC Canada

+1 514 205 5063

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Julien Lassonde

Partner, PwC Associates, National Incentives Leader, Montreal, PwC Canada

+1 418 997 4019

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Liam Fitzgerald

CA, LLB, Tax Operations Leader (Competency), Toronto, PwC Canada

+1 416 869 2601

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