WEBINAR: Critical measures from the 2024 Federal Budget

The 2024 federal budget (Budget 2024), titled Fairness for Every Generation, was delivered by the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, on April 16, 2024.

The webinar addresses five measures from the Budget 2024 including:

1. The increase in the capital gains inclusion rate from 50% to 66.67%
2. The increase to the lifetime capital gains exemption (LCGE)
3. Further changes to the Alternative Minimum Tax (AMT)
4. The introduction of the Canadian Entrepreneurs’ Incentive; and
5. Proposals relating to employee ownership trusts (EOTs)

Disclaimer

The information contained in this document is current to May 2, 2024. It is important to note that no draft legislation was released concerning the measures mentioned above — other than for the AMT and EOT proposals.

In terms of the capital gains inclusion rate, the government was clear that additional design details are forthcoming. It also noted that other consequential amendments would also be made to reflect the new inclusion rate.

Furthermore, any planning undertaken in respect of these measures should also take into consideration the pending changes to other tax measures, including AMT and the General Anti-Avoidance Rule.

Watch the recording