2018 Federal Budget Highlights

  • a deficit of $19.4 billion for fiscal 2017-2018, and forecasts deficits of $18.1 billion for 2018-2019 and $17.5 billion for fiscal 2019- 2020
  • the new taxation regime for holding passive investments inside a private corporation, originally contemplated in July 2017. Under these proposals, if a corporation and its associated corporations earn more than $50,000 of passive investment income in a year, the amount of income eligible for the small business tax rate would be reduced, such that the business limit would be reduced to zero at $150,000 of investment income.
  • tax-tightening measures
  • does not include any changes to the personal or corporate tax rates, or any enhanced capital cost allowance in response to U.S. tax reform.

https://assets.kpmg.com/content/dam/kpmg/ca/pdf/tnf/2018/ca-2018-federal-budget-highlights.pdf

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