Tax Insights: Bill C-59 ─ Excessive interest and financing expenses limitation (EIFEL) regime
On August 12, 2024, the Department of Finance released draft legislative proposals to implement numerous 2024 federal budget and other measures.
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PwC Canada's Federal budget analysis
On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the federal government’s budget. Read more about the tax initiatives proposed in the budget in our in-depth Tax Insights.
Key highlights:
- Increases to the capital gains inclusion rate for all corporations and trusts and for individuals with annual gains >$250,000
- Confirmation of the alternative minimum tax (AMT) proposals affecting high-income individuals, but with amendments to the AMT treatment of charitable donations
- Design and implementation details for the clean electricity investment tax credit
- Incentives for certain purpose-built rental housing, including accelerated capital cost allowance and interest deductibility relief for debt incurred to fund its construction or acquisition
- Support for innovation through immediate expensing for the costs of certain patents and computer equipment and software
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2024 Provincial and Territorial budgets
The release dates for provincial and territorial budgets are noted. If the budget announces significant tax measures, we will also prepare a Tax Insights publication to summarize them.
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Alberta February 29, 2024 • Tax InsightsOpens in a new window |
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British Columbia February 22, 2024 • Tax InsightsOpens in a new window |
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Manitoba April 2, 2024 • Tax InsightsOpens in a new window |
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New Brunswick March 19, 2024 |
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Newfoundland and Labrador March 21, 2024 |
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Nova Scotia February 29, 2024 |
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Ontario March 26, 2024 • Tax InsightsOpens in a new window |
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Prince Edward Island February 29, 2024 |
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Quebec March 12, 2024 • Tax InsightsOpens in a new window |
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Saskatchewan March 20, 2024 • Tax InsightsOpens in a new window |
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Northwest Territories May 24, 2024 |
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Nunavut February 26, 2024 |
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Yukon March 7, 2024 |
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Tax Insights: Finance releases draft legislation for the clean hydrogen and clean technology manufacturing investment tax credits
On May 2, 2024, federal Bill C-69, An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024, was tabled in the House of Commons.
Tax Policy
We work with clients to help them understand the impact of tax policy on their businesses by communicating with the policymakers and stakeholders that shape tax policy.
Preparing for the tidal wave of Canadian tax changes
EIFEL and general anti-avoidance rules will change the economics of business. Here’s how companies can succeed in this new environment.
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