On April 16, 2024, Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented Budget 2024. This budget aims to increase lifetime capital gains exemption, introduce a new Canadian Entrepreneurs’ Incentive and increase the capital gains inclusion rate. It also proposes measures to help Canadians buy their first home by increasing the withdrawal limit and granting temporary repayment relief.
The budget also provides the design and implementation details of the Clean Electricity investment tax credit and proposes to introduce an accelerated capital cost allowance for new purpose-built rental projects and for innovation-enabling and productivity-enhancing assets.
For more details, read the full budget.
DOWNLOAD > 2024 Federal BUDGET SUMMARY