2018 Federal Budget Highlights | KPMG | CA

2018 Federal Budget Highlights

2018 Federal Budget Highlights

Finance Minister Bill Morneau delivered Canada's 2018 federal budget earlier today, February 27, 2018.


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The budget expects a deficit of $19.4 billion for fiscal 2017-2018, and forecasts deficits of $18.1 billion for 2018-2019 and $17.5 billion for fiscal 2019-2020.

As expected, the budget introduces the new taxation regime for holding passive investments inside a private corporation, originally contemplated in July 2017. Under these proposals, if a corporation and its associated corporations earn more than $50,000 of passive investment income in a year, the amount of income eligible for the small business tax rate would be reduced, such that the business limit would be reduced to zero at $150,000 of investment income.

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