The Honourable Chrystia Freeland, Deputy Prime Minister and
Minister of Finance, tabled the Liberal government's eighth
budget on April 16, 2024. Budget 2024 includes a proposal to
increase the capital gains inclusion rate for corporations and
certain individuals, new reporting obligations for cryptoassets,
further details about various clean energy initiatives, and
amendments to the CRA's audit powers. Budget 2024 also
provides general economic and fiscal information and projections,
as well as updates on some previously announced tax measures and
international tax reform under Pillar One and Pillar Two.
Budget 2024 did not provide any updates on the second package of
anti-hybrid rules and amendments to Canada's transfer pricing
regime following the consultation paper released in June 2023. It
confirmed the government's intention to proceed with
amendments relating to the transfer pricing consultation, as well
as the numerous significant tax measures that are
