2018 Federal Budget commentary - cautious yet responsive


The Budget reaffirms that the government will be proceeding with passive investment income tax measures for Canadian controlled private corporations (CCPC), but with reduced complexity that takes into consideration feedback from Canadian businesses.

Key themes identified in the 2018 Federal Budget (Budget 2018) are consistent with pre-budget expectations which emphasized growth, innovation and equality of opportunity. There is an overall theme of tightening existing tax measures to bring them in line with their original policy intent and a signaling from Finance that they intend to conduct a detailed analysis of the recent U.S. tax reform.

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Although a cautious budget from an income tax perspective, there are a number of areas that middle market companies need to be aware of: 

  • Business income tax measures
  • Business measures
  • Artificial losses using equity based financial arrangements
  • Mineral exploration tax credit for flow-through share investors
  • Sales and excise tax measures
  • International tax measures
  • Charities  
  • Personal income tax measures

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