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ARTICLE · 22 MARCH 2013

Federal Budget - 2013 Tax Highlights

Crowe Soberman LLP
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Finance Minister, Jim Flaherty presented the 2013-14 Economic Action Plan 2013 in the House of Commons on March 21, 2013

CanadaTax
Crowe Soberman LLP
Crowe Soberman LLP
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Federal Finance Minister Jim Flaherty tabled his government's "Economic Action Plan 2013" on March 21st with the stated objective of balancing Canada's budget by 2015-16. This "no-frills" budget featured initiatives which included: assistance for those in the struggling manufacturing and mining sectors; adoption of rules to close tax loopholes; and the creation of a whistleblower hotline with rewards to combat international tax evasion and aggressive tax avoidance.

Below, we have provided an overview of the significant tax measures proposed in this year's budget (Budget 2013). Please contact us for additional information on any of these measures.

BUSINESS TAX MEASURES

There were no changes to the corporate tax rates.

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