On April 19, 2021 Deputy Prime Minister and Minister of Finance Chrystia Freeland delivered the first Federal Budget in more than 2 years. While you’ve probably seen plenty of media coverage, I thought you would appreciate an overview related to your investments and taxes.
The budget had no new personal or corporate tax rate changes. Rather, it proposes unprecedented fiscal stimulus to support the economy without any significant revenue-generating tax measures aimed at paying for this spending. You may find interesting what wasn’t in this budget. There was no increase in the capital gains inclusion rate, no change to the principal residence exemption, no family wealth tax, nor was there any income tax rate increases for individuals or corporations. But that doesn’t necessarily mean we won’t see some of these measures in the future.