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Federal Budgets

Bill 13, COVID-19 Emergency Response Act

 - received Royal Assent March 25, 2020.

COVID-19 Resources

2020 Federal Budget

The 2020 Federal Budget was scheduled to be tabled Monday, March 30, 2020, but has been postponed indefinitely due to COVID-19. The House of Commons is adjourned until April 20th.

Legislative proposals presented prior to the 2020 Federal Budget:

Amateur Athletic Trusts

December 20, 2019 Notice of Ways and Means Motion and Explanatory Notes to extend the maturation period of these trusts from eight years to nine years.  Trusts that would mature in 2019 would now mature in 2020.

Personal Tax Credits

December 9, 2019 Notice of Ways and Means Motion and Explanatory Notes re increases for 2020 and subsequent years to the

     - basic personal amount - details of amounts in future years

     - spousal amount and

     -  eligible dependant amount

These changes also automatically affect Yukon territorial income tax due to the wording of their Income Tax Act.  The Yukon government has not indicated whether they will amend their legislation so that the changes do not affect Yukon territorial tax.

The Detailed Canadian Tax and RRSP Savings Calculator for 2019/2020 has been revised to include the proposed legislation.  These proposals are subject to legislative approval.  We have included them because the Bloc have indicated they will support the minority government on this change.  We have not included the same change for the Yukon territorial income tax yet.

2019 Federal Budget March 19, 2019 and subsequent legislation

2018 Fall Economic Statement November 21, 2018 - on Department of Finance website.  Main points:

    - No personal income tax changes

    - full immediate cost write-off for machinery and equipment purchased after November 20, 2018 and used in the manufacturing and processing of goods

    - full immediate cost write-off for specified clean energy equipment purchased after November 20, 2018

    - $800 million to be added to the Strategic Innovation Fund over 5 years, with $100 million to be focussed on providing support to the forest sector.

    - See November 21, 2018 Notice of Ways and Means Motion and Explanatory Notes for more details.

2018 Federal Budget February 27, 2018 and Subsequent Legislation

2017 Small Business Tax Changes - Tax On Split Income / Income Sprinkling

2018 Federal Budget - Pre-Budget Consultations - on Department of Finance website.  No end date for the consultation period has yet been announced.

2017 Fall Economic Statement October 24, 2017

2017 Federal Budget - March 22, 2017 and July 18, 2017 Proposed Tax Changes for Private Corporations

2016 Fall Economic Statement November 1, 2016 - on Department of Finance Budget website

2016 Federal Budget March 22, 2016

Legislative Proposals Prior to 2016 Budget

2015 Liberal Party Platform

2015 Federal Budget April 21, 2015

October 2014 Federal Update - new Family Tax Cut, UCCB increased, Child Tax Credit eliminated, Child Care Expense Deduction increased

2014 Federal Budget / Economic Action Plan February 11, 2014

2013 Federal Budget / Economic action plan - March 21, 2013

2012 Federal Budget - March 29, 2012 - and subsequent legislation

2011 Federal Budget - June 6, 2011

2010 Federal Budget

2009 Federal Budget - Canada's Economic Action Plan

2008 Federal Budget and 2008 Economic and Fiscal Statement

2007 Federal Budget

2006 Federal Budget

Other Resources:

Department of Finance Budget website

Prior Budgets

Department of Finance draft legislation

Parliament of Canada - Bills

Consolidated Statutes and Regulations of Canada

Federal-Provincial Fiscal Arrangements Act R.S.C., 1985, C. F-8 - re equalization payments to provinces, health transfers, sales tax harmonization, etc.

Canadian Government News Releases

Department of Finance Archived News Releases

Revised: March 29, 2020



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