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ARTICLE · 22 APRIL 2021

2021 Federal Budget Briefing

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On April 19, 2021, The Honourable Chrystia Freeland, Deputy Prime Minister and Finance Minister, delivered the 2021 Federal budget, titled "A Recovery Plan for Jobs, Growth, and Resilience"

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Corinne Grigoriu
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Jocelyn Arnason
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INTRODUCTION

On April 19, 2021, The Honourable Chrystia Freeland, Deputy Prime Minister and Finance Minister, delivered the 2021 Federal budget, titled "A Recovery Plan for Jobs, Growth, and Resilience" (Budget 2021). Budget 2021 contained a number of significant income tax proposals affecting Canadian businesses, including a new mandatory reporting regime and new interest deductibility and anti-hybrid structure rules.

It is also notable that Budget 2021 did not include certain measures that many expected or speculated would be included this year. Specifically, there was no increase to the capital gains inclusion rate, no increase in personal or corporate tax rates, no introduction of a wealth tax, and no change to the principal residence exemption.

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