Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 APRIL 2012

Harper’s First Majority Government Budget – Tax Changes Include Targeted Measures To Close Perceived Loopholes

McCarthy Tétrault
McCarthy Tétrault
Contributor
McCarthy Tétrault

McCarthy Tétrault

Built on a unique model of collaboration, innovation and efficiency, McCarthy Tétrault delivers...

View firm profile
Explore more from McCarthy Tétrault

The Honourable James M. Flaherty, Minister of Finance, introduced the Harper government’s first majority budget (Budget 2012), entitled Economic Action Plan 2012: Jobs, Growth and Long-Term Prosperity, on March 29, 2012.

CanadaGovernment, Public Sector
Kurtis Bond
Kurtis Bond
Douglas Cannon
Douglas Cannon
Christopher Falk
Christopher Falk
V. Daniel Jankovic
V. Daniel Jankovic
Nigel Johnston
Nigel Johnston
James Morand
James Morand
Ryan Rabinovitch
Ryan Rabinovitch
Gabrielle Richards
Gabrielle Richards
Author LinkedIn connections

The Honourable James M. Flaherty, Minister of Finance, introduced the Harper government's first majority budget (Budget 2012), entitled Economic Action Plan 2012: Jobs, Growth and Long-Term Prosperity, on March 29, 2012.

Budget 2012 states that since Canada is emerging from the global economic recession, the strengths of the Canadian economy provide an opportunity to the government to take significant actions that will "fuel the next wave of job creation and position Canada for a secure and prosperous future."

Budget 2012 does not propose any change in tax rates for corporations or individuals. Rather, tax measures are generally focused on closing down what the Department of Finance and the Canada Revenue Agency (CRA) identify as loopholes and abusive transactions.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

New Act Respecting Contracting By Municipal Bodies: How To Secure Your Bids

Effective April 1, 2026, Quebec's Act respecting contracting by municipal bodies fundamentally transforms how municipal contracts are awarded, moving beyond the traditional lowest-price model to embrace qualitative evaluation criteria including environmental practices, life cycle costs, and contractor performance history. Municipal bodies now have eight award procedures to choose from, along with new pre-tender processes that can limit competition to prequalified enterprises. Contractors must adapt their te
CanadaGovernment, Public Sector
BCF Business Law
BCF Business Law
Article

Building Momentum: Canada Advances Major Projects Under The Building Canada Act

The federal government has published notices proposing to add the Mackenzie Valley Highway and Roberts Bank Terminal 2 to Schedule 1 of the Building Canada Act as projects of national interest. These potential listings, following a similar notice for the West Coast Oil Pipeline, provide the first practical indications of how the government may use the Act to advance major infrastructure projects through streamlined federal approvals while maintaining Indigenous consultation and environmental assessment requ
CanadaGovernment, Public Sector
McMillan LLP
McMillan LLP
Article

Building Canada: Investing In Major National Projects

Canada is experiencing a surge in infrastructure investment driven by streamlined regulatory approvals, enhanced government financing mechanisms, and growing demand for energy and digital infrastructure. This guide examines the evolving legal and regulatory landscape that foreign investors must navigate to successfully structure, finance, and develop major projects across the country.
CanadaGovernment, Public Sector
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Canada Launches Responsible Data Centre Development Principles: What Clients Need To Know

Canada has introduced a new national framework setting expectations for data centre infrastructure development, with 42 major industry signatories including Amazon, Google, Meta, Microsoft and NVIDIA. The Principles establish five core requirements covering local benefits, electricity cost allocation, environmental impacts, transparency and strategic value, though their practical implementation will depend heavily on provincial and municipal policy decisions.
CanadaGovernment, Public Sector
Bennett Jones LLP
Bennett Jones LLP
Article

Gloves Off: Canada Answers U.S. Section 338 Tariffs Dollar-for-Dollar As Washington Escalates With Import Bans

Canada and the United States have entered a new phase of trade conflict, with Canada implementing retaliatory surtaxes on C$27.6 billion of U.S. goods while the United States escalates beyond tariffs to outright import prohibitions on Canadian alcohol, dairy products, and motorcycles. The dispute now extends into government procurement policy, raising questions about compliance strategies and supply chain restructuring as both nations tighten customs enforcement.
CanadaInternational Law
McCarthy Tétrault
McCarthy Tétrault
Article

Federal Government Removes Certain Energy Projects From The Impact Assessment Act Project List

The Canadian government has removed seven types of energy projects from federal impact assessment requirements, shifting review responsibilities to the Canada Energy Regulator and provincial processes. This regulatory change affects pipelines, electrical transmission lines, oil sands facilities, and power plants, fundamentally altering how major energy infrastructure projects will be evaluated and approved across Canada.
CanadaEnvironment
McCarthy Tétrault
McCarthy Tétrault
Article

Productivity Mega Deduction: Key Tax Measures Announced At The Canada Investment Summit

Canada has introduced a permanent Productivity Mega Deduction allowing immediate expensing of up to 100% of eligible capital property costs and Canadian development expenses acquired after September 15, 2026. This measure aims to boost business investment and strengthen Canada's tax competitiveness by expanding immediate expensing eligibility from 15% to approximately two-thirds of capital investments, while reducing the country's marginal effective tax rate to 6.4%.
CanadaTax
McCarthy Tétrault
McCarthy Tétrault
Article

Canada Commits To Airport Privatization Through Long-Term Concessions For Its Four Largest Airports

The Canadian federal government has announced a firm commitment to privatize operations at the country's four largest airports through long-term concessions, marking a decisive shift from earlier exploratory discussions. Prime Minister Mark Carney revealed that while the government will retain ownership of airport lands and assets following the Australian leased-airport model, private investment will be sought to operate Toronto Pearson, Vancouver, Montreal-Trudeau, and Calgary international airports.
CanadaTransport
McCarthy Tétrault
McCarthy Tétrault
Article

Bill C-29 And Canada’s Proposed Financial Crimes Agency: What You Need To Know

Canada is poised to establish its first dedicated Financial Crimes Agency through Bill C-29, a legislative initiative that promises to reshape the country's approach to investigating and prosecuting financial offenses. The proposed agency would operate with broad investigative powers and a sweeping mandate covering everything from money laundering to digital asset crimes, backed by $352.7 million in federal funding over five years. With the authority to create its own specialized police force and coordinate
CanadaCriminal Law
McCarthy Tétrault
McCarthy Tétrault