Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 JULY 2022

Budget 2022 Bill Receives Royal Assent

Cassels
Cassels
Contributor
Cassels

Cassels

Cassels Brock & Blackwell LLP is a Canadian law firm focused on serving the transaction, advocacy,...

View firm profile
Explore more from Cassels

On June 23, 2022, Bill C-19, Budget Implementation Act, 2022, No. 1 received Royal Assent (Bill C-19). Bill C-19 implements certain tax measures announced in Budget 2021 and Budget 2022...

CanadaTax
Corinne Grigoriu
Corinne Grigoriu
Jocelyn Arnason
Jocelyn Arnason
Jake Farrow
Jake Farrow
Author LinkedIn connections

On June 23, 2022, Bill C-19, Budget Implementation Act, 2022, No. 1 received Royal Assent (Bill C-19). Bill C-19 implements certain tax measures announced in Budget 2021 and Budget 2022, and various other initiatives, including the new Select Luxury Items Tax Act. The following is a summary of certain measures contained in Bill C-19.

Since Canada has a minority federal government, the corporate income tax measures in Bill C-19 were considered substantively enacted for IFRS and Accounting Standards for Private Enterprise (ASPE) purposes on June 9, 2022 (the date the bill passed third reading. For US GAAP purposes, these measures are considered enacted for US GAAP purposes on June 23, 2022 (i.e., upon Royal Assent).

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

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

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

Read more about

Related Comparative Guides

See more popular content from

Article

Advance Income Tax Ruling Requests For “major Investments” In Canada To Take Priority

The Canada Revenue Agency has announced a new policy to prioritize advance income tax ruling requests for investments of $1 billion or more in Canada. This initiative aims to provide greater tax certainty and reduce risks for major investors, potentially accelerating large-scale project development and strengthening Canada's economic competitiveness. However, questions remain about implementation timelines and potential impacts on smaller ruling requests.
CanadaTax
Gowling WLG
Gowling WLG
Article

Understanding Canada’s new "Productivity Mega Deduction": Broad-based, immediate, and permanent expensing

Canada's new Productivity Mega Deduction promises to slash the marginal effective tax rate on business investment to just 6.4%, positioning the country as the most competitive G7 nation for capital deployment. This permanent tax incentive extends immediate expensing to roughly 65% of capital assets, fundamentally reshaping the economics of investing in Canadian operations across manufacturing, energy, technology, and resource sectors.
CanadaTax
Gowling WLG
Gowling WLG
Article

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.
CanadaTax
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Canada Announces New Counter-Tariffs And Support Measures Following US Tariff Actions

Canada has announced sweeping counter-tariffs ranging from 15% to 50% on approximately C$27.6 billion of US imports, effective September 8, 2026, in direct response to President Trump's 50% Section 338 tariffs on Canadian goods. The measures target key sectors including steel, aluminum, dairy, appliances, and electronics, while the federal government simultaneously rolls out C$7.5 billion in support for affected businesses and workers. Understanding whether products qualify as US goods under Canada's markin
CanadaInternational Law
Cassels
Cassels
Article

WorkSafeBC Proposes Changes To Laws Regarding Workplace Harassment And Violence

WorkSafeBC is proposing significant amendments to British Columbia's Occupational Health and Safety Regulation that would fundamentally reshape how employers address workplace harassment, violence, and psychological health. The proposed changes introduce expanded definitions, new prevention program requirements, and obligations to identify and control psychosocial hazards. These amendments could require most B.C. employers to substantially revise their existing workplace policies and procedures.
CanadaEmployment and HR
Cassels
Cassels
Article

Cassels On Competition: October 2026

More particularly, the Plaintiff had argued that the drip pricing provision in subsection 52(1.3) of the Competition Act requires “all-inclusive pricing” and forbids all forms of “fragmented or segmented pricing,” and that Ticketmaster’s partitioned price representations are thus prohibited as a criminal conduct and amount to false or misleading representations covered by the criminal misleading advertising provision in section 52
CanadaAntitrust/Competition Law
Cassels
Cassels
Article

Bill C-39: A New Era For Canadian Mining Project Approvals?

The Canadian government has introduced Bill C-39, the Building Canada Strong Act, proposing sweeping reforms to federal project approval processes that could fundamentally reshape mining project development and financing. The legislation aims to consolidate multiple federal reviews into a single coordinated process with a one-year decision timeline, while maintaining environmental protections and Indigenous consultation requirements.
CanadaGovernment, Public Sector
Cassels
Cassels
Article

New Can-Do CANDU Energy: Bill C-39 Looks To Reduce Regulatory Burdens And Streamline The Development Of Nuclear Projects In Canada

Bill C-39, the Building Canada Strong Act, proposes significant reforms to Canada's nuclear regulatory framework by restoring impact assessment authority to the Canadian Nuclear Safety Commission and introducing streamlined approval processes. The legislation aims to reduce regulatory duplication, permit preliminary construction activities before final project approval, and establish more constrained timelines for nuclear project assessments. Will these measures be sufficient to support the ambitious growth
CanadaEnergy and Natural Resources
Cassels
Cassels
Article

Substance Over Form: Ontario Court Of Appeal Revisits Employee Classification In Pringle v. Zenova Group PLC

The Ontario Court of Appeal has ruled that contractual labels cannot override the true nature of working relationships, even when workers choose independent contractor status for tax benefits. This decision examines how shareholding in a company intersects with employment status and whether foreign forum selection clauses can prevent Ontario workers from accessing provincial employment protections.
CanadaEmployment and HR
Cassels
Cassels