ARTICLE
24 April 2024

Federal Government Releases Budget 2024

MT
McCarthy Tétrault LLP
Contributor
McCarthy Tétrault LLP provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada’s major commercial centres and in New York City, US and London, UK.
On April 16, 2024, Canada's Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the Liberal Government's federal budget, Fairness for Every Generation (Budget 2024).
Canada International Law
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On April 16, 2024, Canada's Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the Liberal Government's federal budget, Fairness for Every Generation (Budget 2024). The most notable tax measure in Budget 2024 is the proposal to increase the capital gains inclusion rate from one-half to two-thirds, for capital gains realized on or after June 25, 2024. This measure will apply to all capital gains realized by corporations and trusts, but only will apply to individuals in respect of the portion of capital gains realized in the year that exceeds $250,000.

For a discussion of Budget 2024's proposed changes to the capital gains inclusion rate and other tax measures relevant to international trade, please see McCarthy Tétrault's Budget 2024 Commentary.

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ARTICLE
24 April 2024

Federal Government Releases Budget 2024

Canada International Law
Contributor
McCarthy Tétrault LLP provides a broad range of legal services, advising on large and complex assignments for Canadian and international interests. The firm has substantial presence in Canada’s major commercial centres and in New York City, US and London, UK.
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