2016 Federal Budget Summary And Comments

On the afternoon of March 22, 2016, the new Liberal government introduced its first federal budget (the budget).

For those of you who subscribe to the theory "too long... didn't read," below is an executive summary of the tax measures that may be of interest, followed by some analysis and commentary.

EXECUTIVE SUMMARY OF TAX MEASURES

1. No changes to the current stock option taxation regime are in the budget materials. Following the release of the budget, the government announced they will not be proceeding with any changes to the current taxation regime involving stock options.
2. The changes to the taxation of Canadian-controlled private corporations (CCPCs) are rather modest and include measures to prevent the multiplication of small business deductions through the use of certain common structures. No changes to the eligibility for the small business deduction for certain corporations (such as professional corporations) are proposed.