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ARTICLE · 02 JANUARY 2025

Fall Economic Statement Highlights

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On December 16, 2024, the federal government provided the country with the 2024 Fall Economic Statement (the "Statement").

CanadaTax
Adrian Tong
Adrian Tong
Brian Steeves
Brian Steeves
Garrett Louie
Garrett Louie
Stephen Zhang
Stephen Zhang
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On December 16, 2024, the federal government provided the country with the 2024 Fall Economic Statement (the "Statement"). The announcements focused on reducing everyday costs incurred by Canadians, while following-up on previously-announced tax measures.

Crowe MacKay's tax experts provide tax highlights of key areas within the Statement that may affect you or your business.

Personal Income Tax Measures

Canada Disability Benefit

Currently, payments received under the Canada Disability Benefit would be included in a recipient's income for tax purposes and an offsetting deduction would be provided to ensure that the payments are effectively non-taxable. However, the amounts received could affect certain income-tested benefits delivered through the federal and provincial tax systems, such as the Canada Child Benefit. 

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