ARTICLE · 21 NOVEMBER 2024

2024 Federal Budget Legislative Updates

Bateman MacKay LLP

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The Canadian federal government introduced several legislative updates on August 12, 2024 ("the August 12th Proposals"), aimed at implementing tax measures, refining draft legislation, and making technical changes.

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These legislative updates include notable adjustments to the capital gains inclusion rate change, bare trust reporting and graduated rate estate carry-back.

The Canadian federal government introduced several legislative updates on August 12, 2024 ("the August 12^th Proposals"), aimed at implementing tax measures, refining draft legislation, and making technical changes. Including key measures first announced in the 2024 Federal Budget (Budget 2024), the most relevant updates include the capital gains inclusion rate increase, trust reporting rule modifications and an extended capital loss carry-back period for estates. For a full list of the legislative updates, visit this Federal government website.

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