In early November, the Government of Canada’s Fall Economic Statement was released, which provided updates on Canada’s economic plan following Budget 2022. Included in this were several proposals related to net-zero commitments, such as new investment tax credits, a growth… Read more »
Budget 2019: Highlights for Businesses
Federal Finance Minister Bill Morneau’s election year budget, tabled on March 19th, 2019, forecasted a deficit of $19.8B for fiscal 2019, with deficits projected to decline gradually to $9.8B by 2023. No additional measures were proposed to provide business tax reductions,… Read more »
Quebec Budget 2018 Highlights
The 2018 Quebec Budget, tabled on March 27, 2018, reports accelerated gross domestic product (GDP) growth from 1.4% in 2016 to 3% in 2017 and proposes several measures and investments that will impact businesses in Quebec including: Innovation Increasing the… Read more »
Ontario Budget 2018 Highlights
The Ontario 2018 Budget, tabled on March 28, 2018, projects a growing deficit over the next three years and is predicted to resume a downward trend in 2022 with accumulated deficit expected to decline from 23.2% of gross domestic product… Read more »
Historic Reform of Funding Programs: Budget 2018 Highlights
Federal Finance Minister Bill Morneau’s third budget, tabled on February 27th, 2018, forecasted a deficit of $18.1B for fiscal 2018, with deficits projected to decline gradually to $12.3B by 2022. Budget 2018 confirmed the announcements made in the 2017 Fall Economic… Read more »
The Fate of Canadian Manufacturing
The Canadian Manufacturing Coalition (CMC) recently sent a letter to Canada’s Federal Minister of Finance, the Honourable William Morneau, on behalf of thousands of members of undersigned manufacturing associations. The letter emphasized the importance of manufacturing to the Canadian economy and urges… Read more »
$950M in Funding Awarded to 5 High Tech Superclusters
Five winners of Canada’s Innovation Supercluster Initiative have been announced to receive $950M over 5 years in non-repayable funding. While announcing the winners on February 15th 2018, Economic Development Minister Navdeep Bains described a supercluster as “a made-in-Canada Silicon Valley that will… Read more »
Federal Budget 2017 Highlights
Federal Finance Minister Bill Morneau’s second budget, tabled on March 22, 2017, forecasted an increase in the 2017-2018 deficit from $25.4B (projected in the fall) to $28.5B. Deficits are expected to decline gradually to $18.8 billion by 2021-2022. There were no… Read more »
Federal Budget 2016
The federal budget released on March 22, 2016 has made several changes that affect Canadian businesses, including announcements related to government funding programs and adjustments to the Small Business Deduction for Canadian-Controlled Private Corporations (CCPCs). Pertinent announcements are summarized below: Reduced Small… Read more »