On February 27, 2018 (Budget Day) the
Honourable Bill Morneau, Minister of Finance (the
Minister), tabled the federal government's
third budget (Budget 2018). Based on recent
developments nationally—and the Liberal government's
previously announced policies—it should come as little
surprise that the expansion of government programs, promotion of
gender equality, legalization of marijuana, and other
sociopolitical issues take center stage in Budget 2018.
On the fiscal front, Budget 2018 introduces some important,
albeit incremental, tax changes for businesses and individuals. In
general, these new measures target the politically-charged issue of
perceived tax advantages that a small percentage of wealthy
individuals enjoy over the rest of the population, which the
Minister previously raised in 2017. As the Minister stated in his
speech to the House of Commons, "We can't have an economy
that works for everyone, if everyone doesn't pay their fair
share." Also included
