Lower CPP contributions, an extended first time home buyers’ plan grace period and other tax measures tabled in Ottawa
Interest rate on overdue tax will remain 7% in Q3
The data also reveals Canadians' limited knowledge of cross-border investing tax implications
With reduced deduction of investment counsel fees, many trusts need to amend tax returns
High earners feeling the effects, but have more capacity to absorb rising costs
Many trusts may need to amend 2024, 2025 tax returns
The budget forecasts a deficit of $498M on total spending of $27.3B
The Ministry of Finance estimates the measure will spark an additional 8,000 housing starts
Omnibus bill includes extended period for loss carryback strategy
Budget focuses on extensions and changes to support AI, media and culture