ARTICLE · 01 JUNE 2016

The TaxLetter: Taxpayer Beware

Minden Gross LLP

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The Liberal government's Federal Budget was released on March 22, 2016, with the theme of "growing the middle class".

CanadaTax

Samantha Prasad

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The Liberal government's Federal Budget was released on March 22, 2016, with the theme of "growing the middle class". The budget project significant deficits over the next several years. The forecast reflects a deficit of $5.4 billion for 2015–16, and projects additional deficits of $29.4 billion, $29 billion, $22.8 billion, $17.7 billion and $14.3 billion for 2016–17, 2017–18, 2018–19, 2019–2020 and 2020–2021, respectively. Happily though, the government is starting from a relatively strong fiscal position in 2016.

So what does this all mean for your final tax bill? Read on for a summary of some of the personal & business tax measures that might be of interest to you.

Personal Tax Measures

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