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2021 Budget

Ottawa, Parliament Buildings

Yesterday, the 2021 Budget was released.

The attached memo addresses measures that we feel are relevant to our business clients.

Ottawa, Parliament Buildings

No changes were made to personal or corporate tax rates, nor to the inclusion rate on taxable capital gains.

Highlights:

  • The Canada Emergency Wage and Rent Subsidies (CEWS and CERS) will be extended.
  • The Canada Recovery Hiring Program was introduced.
  • The ability to immediately expense 100% of many capital asset purchases was introduced.
  • A new tax of up to 10% will apply to the purchase of luxury vehicles, aircrafts or boats.

Deuzeman CPA Memo to Clients

Full Budget

Should you have any questions or feedback, please reach out to myself or the team. As always, we are here to help and support you.

Caveat: The information in this publication is current as of the time it was written. This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Deuzeman & Associates to discuss these matters in the context of your particular circumstances. Deuzeman & Associates does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.

 

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