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

  • Agility

    June 18, 2024

    Cyber security 101 Keep your small business safe from phishing

    Phishing is a common cyber crime that can threaten your small to mid-sized business.

  • Performance

    June 18, 2024

    Fill the gaps in your finance department with cloud accounting

    Ease by MNP uses cloud accounting platforms, like Xero, to help real estate and construction businesses work more effectively.

  • Confidence

    June 18, 2024

    2024 MNP Municipal Report: How does your local government stack up?

    Canada’s municipalities are evolving to create responsive and efficient services for customers. This 2024 report highlights the key priorities.