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ARTICLE · 14 APRIL 2016

Legal Trends 2016: Tax

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

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Elected in October 2015, Canada's new Liberal government has proposed a tax platform featuring significant changes, including a four per cent increase (to 33 per cent) in the federal tax rate for individuals on income over C$200,000 and a 1.5 per cent drop in the middle-income tax rate.

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Blakes Tax Group
Blakes Tax Group
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ONE |A NEW LIBERAL GOVERNMENT

Elected in October 2015, Canada's new Liberal government has proposed a tax platform featuring significant changes, including a four per cent increase (to 33 per cent) in the federal tax rate for individuals on income over C$200,000 and a 1.5 per cent drop in the middle-income tax rate. The new government has also pledged to limit the amount of employee stock-option gains eligible for capital gains treatment to C$100,000 per year. This could seriously impact many sectors, including the technology sector, which relies heavily on stock-option compensation. The Minister of Finance has advised that existing options will be grandfathered.

Other proposed changes include reversing the previous government's increase in the annual TFSA (tax-free savings account) contribution limit (reinstating the prior C$5,500 limit), reducing the small-business tax rate from 11 per cent to nine per cent and possibly imposing new limits on the types of

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