ARTICLE · 03 MAY 2013

Ontario Budget - 2013 Tax Highlights

Crowe Soberman LLP

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Today (May 2, 2013), Ontario Finance Minister, Charles Sousa tabled the province’s 2013 Budget. This year’s budget, titled "A Prosperous and Fair Ontario" is committed to eliminating the deficit by 2017-18 and then reducing the net debt-to-GDP ratio to the pre-recession level of 27%.

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Crowe Soberman LLP

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Today (May 2, 2013), Ontario Finance Minister, Charles Sousa tabled the province's 2013 Budget. This year's budget, titled "A Prosperous and Fair Ontario" is committed to eliminating the deficit by 2017-18 and then reducing the net debt-to-GDP ratio to the pre-recession level of 27%.

The Wynne government presented a budget that is based on taking a "balanced approach" to eliminating Ontario's deficit. This balanced approach is achieved by keeping growth in program spending at low levels therefore allowing the government to make smart investments for Ontario's long-term prosperity, all the while balancing the budget.

Other than paralleling the tax treatment of non-eligible dividends proposed in the 2013 Federal Budget, no new taxes or tax rate changes were introduced in this Ontario Budget.

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