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ARTICLE · 21 APRIL 2021

A Long-Awaited Canadian Federal Budget

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On April 19, 2021 ("Budget Day"), Finance Minister Chrystia Freeland delivered Canada's budget for 2021 ("Budget 2021") – the first federal budget released by the Department of Finance...

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Aird & Berlis LLP
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On April 19, 2021 ("Budget Day"), Finance Minister Chrystia Freeland delivered Canada's budget for 2021 ("Budget 2021") – the first federal budget released by the Department of Finance ("Finance") in more than two years. Budget 2021 offered plenty of spending measures, including (from a tax perspective) an extension of the Canada Emergency Wage and Rent Subsidy programs and a new Canadian Recovery Hiring Program, but few and relatively limited tax-relieving measures such as the immediate expensing of certain depreciable properties acquired by Canadian-controlled private corporations ("CCPCs"), accelerated capital cost allowance for clean energy equipment and a new rate reduction regime for zero-emission technology manufacturers.

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