Changes to life insurance, small business tax rates and mutual fund corporations were just some of the surprises in yesterday’s federal budget.
Advisor was in Ottawa to get the details, and has all the coverage you need to make sure you’re caught up on what it means for your clients.
But there’s more to the budget than taxing and spending. Our colleagues at Maclean’s, MoneySense, Benefits Canada and Canadian Business are ready to fill you in on what else you need to know about Prime Minister Justin Trudeau and Finance Minister Bill Morneau’s first budget.
MoneySense has the run down on how the budget will affect families, seniors, students and investors. One of the biggest promises in the budget was the introduction of the Canada Child Benefit, which takes the place of the Universal Child Care Benefit and the Canada Child Tax Benefit. But there are also changes to EI, OAS, education grants and more.
Business-owning clients and advisors alike should know what’s in store for entrepreneurs and small-to-medium-sized businesses. Freezing the small business tax rate at 10.5%, instead of going ahead with future cuts, is just the start. And Benefits Canada outlines what changes are in store for employers and pensions.
The budget is the most important economic and political document in Canada. Maclean’s analyses what the government predicts for our economy, how it intends to make an impact on jobs and growth, and more. Watch a Maclean’s live analysis of the budget here.
Read Morneau’s own take on the budget — with side-by-side analysis from experts — here.