Release Of The Federal Budget, 2021

On Monday, April 19, 2021, Canada's Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the first official budget in the past two years, titled, Federal Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience (the "Budget").  The Budget proposed over $100 billion in spending, and, among the more significant measures, the Budget proposes extending the Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS), and Lockdown Support through September 2021.  The Budget also introduces a new Canada Recovery Hiring Program. 

Of note, and relief to many, the Budget did not introduce measures to increase the capital gains inclusion rate (currently 50%), eliminate or modify the principal residence exemption, restrict surplus stripping plans, or impose a wealth tax.