Federal Budget Commentary 2024

On April 16, 2024, the Federal Government tabled Budget 2024, which proposed a broad array of provisions impacting many individuals and businesses.

 Some of the items of interest include the following:

  • The inclusion rate for capital gains has increased to two-thirds, however individuals will retain the 50% inclusion rate on the first $250,000 of gains annually.  This is the first time the inclusion rate has been modified since the year 2000
  • An increase to the lifetime capital gains exemption on qualifying sales, and two new incentives on specific types of business sales
  • A carbon rebate for small businesses
  • Details on the Canada disability benefit intended to commence in 2025.

Please see the linked Commentary for more details on these items.

Thank you for your business, and please do not hesitate to contact us if you have any questions.

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