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In early November of 2017, the Finance Minister announced the launch of the Government of Canada’s consultations for Budget 2018. The budget consultations allowed Canadians to provide their ideas and suggestions on how the Government can go about setting up Budget 2018 to benefit all Canadian families, communities and the country. There are a number of ways that Canadians who want to share their ideas with the Government which includes in-person and digital events with the Minister of Finance and Parliamentary Secretary Joel Lightbound, events with other Parliamentarians, and online through the budget 2018 website (www.budget.gc.ca/pbc18).In a statement published on January...
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Last week, the Finance Minister launched the Government of Canada’s consultations for Budget 2018. Canadians are invited to provide ideas and suggestions as the Government make their budget decisions on important issues and concerns. With this announcement, the Federal Government launched the website, www.budget.gc.ca/pbc18, to make it easy for Canadians to give their input. In the website, visitors can take four surveys on the following: 1. Progress for the Middle Class – the Government aims to strengthen and grow the middle class by creating jobs, improving lives, strengthening communities and growing the economy. 2. Economy of Tomorrow – there are many...
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The Department of Finance re-released draft legislative proposals with regards to income tax that were announced in Budget 2017.  These proposals include measures respecting: 1.    The Ecological Gifts Program; 2.    Clean energy generation equipment: geothermal energy; 3.    The Canadian exploration expense: oil and gas discovery wells; 4.    The reclassification of expenses renounced to flow-through share investors; 5.    The meaning of factual control; and 6.    Extending the base erosion rules to foreign branches of life insurers. The draft income tax proposals also include other measures that have been modified based on previous consultations, respecting: 1.    The anti-avoidance rules for registered plans; 2.   ...
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Public consultations were announced recently for the draft legislative and regulatory proposals relating to the Goods and Services Tax / Harmonized Sales Tax (GST/HST) and excise duty. The proposals relating to GST/HST and Excise Duty include new and previously released proposals. New proposals include changes to: 1.    Revise the timing of requirements for GST/HST rebate applications by public service bodies; 2.    Extend the application of the GST/HST rules applicable to selected listed financial institutions to include investment limited partnerships, and provide GST/HST relief to investment limited partnerships with non-resident investors where certain conditions are met; and 3.    Revise the federal excise...
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