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On February 25, 2021, Alberta Finance Minister Travis Toews tabled Alberta’s 2021-24 three-year fiscal plan (Budget 2021). The global pandemic and the crash in oil prices have brought significant challenges to the province.
The 2020 Fall Economic Statement provides a summary of government measures introduced in response to COVID-19 to help Canadian businesses and individuals.
Finance Minister Rod Phillips has tabled Ontario’s 2020-21 budget which introduces $15 billion of new spending over three years in response to COVID-19.
The Canada Recovery Benefit (CRB) explained will provide $500 per week, for each two-week period, for up to 26 weeks (i.e. 13 two-week periods). The benefit paid out for each two-week period will be $900, which is $1,000 less withholding tax of $100.
With the BC election near and in light of COVID-19, both the NDP and Liberal parties have proposed new Provincial Sales Tax (PST) and Speculation and Vacancy Tax initiatives.
Rare decision by Tax Court of Canada ruling in favor of AgraCity Canada over transfer pricing dispute with CRA.
Support for Canadian entrepreneurs comes from many sources and both the federal and provincial governments offer incentives to build and foster successful start-ups.
Finance Minister Bill Morneau has released a “fiscal snapshot” on federal spending and the overall economic impact of the COVID-19 pandemic.