Canadian flag flying high above a blue sky

2024 Federal Budget Highlights

2024 Federal Budget Highlights

Synopsis
20 Minute Read

Deputy Prime Minister and Minister of Finance the Hon. Chrystia Freeland tabled the federal government’s budget on April 16, 2024.

The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered the 2024 federal budget (Budget 2024), entitled Fairness for Every Generation, on April 16, 2024.

This budget includes measures intended to increase housing supply, help manage the rising cost of living, and grow the economy.

Below are the tax highlights from this year’s budget.

Capital gains inclusion rate

Budget 2024 proposes to increase the capital gains inclusion rate for corporations from one-half to two-thirds for capital gains realized on or after June 25, 2024.

Transitional rules will apply for gains realized in tax years that begin before and end on or after June 25, 2024; two different inclusion rates would apply.

Insights

  • Confidence

    May 15, 2024

    What is the impact of financial crime and how can you reduce risks to your business?

    During Victims and Survivors of Crime Week 2024, discover the impacts of financial crime and the steps you can take to protect your business from threats.

  • Progress

    How SMARTPro Helps Enhance Practice Value

    Learn how to get your practice into a ready state for a sale with SMARTPro.

  • Progress

    Your Construction Company and Employee Share Options

    MNP poses a few questions and offers a few tips to see if an employee share option plan will work for you and your construction company.