Deep Dive into Federal Budget 2022
On June 2nd at 12:00 ET, Jay Goodis and Kim G C Moody discussed the Federal tax budget (which was released April 2022).
On April 7th, the Federal Government presented the 2022 Federal budget which contained numerous tax changes impacting both individuals and corporations. This was shortly followed by the introduction of Bill C-19 which provided legislation for some elements of the 2022 Budget and previously announced tax measures. This session will focus on understanding the elements introduced in the 2022 Federal budget, Bill C-19, key changes in provincial budgets, and planning considerations for individuals and businesses in light of the tax changes.
Taxable capital and the Small Business Deduction
Substantive CCPCs
Modifications to the FAPI regime
Residential property flipping rules
New minimum tax regime
First Home Savings Account (FHSA)
New tax credits/deductions and other amendments
Proposal for expanded reporting requirements for trusts
Excessive Interest and Financing Expenses Limitation
Proposal for mandatory disclosure rules