Advisors are still relatively positive about the tax-free first home savings account, despite not being able to use it alongside the Home Buyers’ Plan
Higher taxes offset benefit of efforts to cool housing market
New federal enforcement agency, more funds for FINTRAC
Budget promises examination of digitalization, single complaint-handling body
Government cuts fossil-fuel credits, offers new credits for critical mineral, carbon capture development
Profits on sale of residential property held for less than 12 months would be taxed as business income
The government plans to consult on how to allow "genuine" intergenerational share transfers
The measure would target those among the top 0.5% not paying their “fair share” of taxes
To pay for some of the spending, the government is rolling out a tax on excess profits at banks and lifecos
Keep on top of all the latest tax changes in Budget 2022 during this webinar with noted tax expert Jamie Golombek