March 20, 2019


Finance Minister Bill Morneau delivered the 2019 Budget on March 19. This budget contains tax measures that affect personal and corporate income tax as well as international tax and sales tax.

On the Canadian tax side, the most notable changes are the repeal of the use of taxable income as a factor in determining the expenditure limit for purposes of the enhanced investment tax credit for research and development as well as new incentives for zero-emission vehicles.  Another notable change relates to the forthcoming proposals of a $200,000 annual cap on employee stock option granting capital gains-like treatment applicable to “large, long-established, mature firms” but not to “start-ups and rapidly growing Canadian businesses”. The other significant change relates to the disclosure of beneficial owners of federally incorporated companies to tax authorities.

On the international tax side, the most notable change is the expansion of the foreign affiliate dumping rules to non-resident individuals, trusts and non-arm’s length groups. The other significant change relates to Transfer Pricing rules which now have precedence over other tax rules and receive a broader application.

PSB BOISJOLI presents the highlights of the 2019 Federal Budget.

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