New Federal Budget and Tax Time

The new Federal Budget dropped on March 19, 2019 during a time when many Canadians are thinking about their 2018 Tax Filing returns. What do you need to know?

A Number Of Perspectives

We offer a few different perspectives on the Budget features and proposed changes.

  • PWC provides a specific list of changes from a technical perspective: CLICK HERE.
  • CBC provides a fact check on the Federal Budget assumptions: CLICK HERE

It appears the Federal Budget was designed to appeal to struggling homebuyers, seniors, those needing job retraining and other targeted groups.

Grant Thornton’s Federal Budget Highlights March 2019

An Investor’s Perspective

From an investor’s perspective, the prospects of slower economic growth points to a focus on fiscal management and Debt to GDP ratios is a common benchmark. The current government use this “debt service ratio” as its fiscal anchor not a budget target. This can be interpreted to mean, similar to governments before, it does not aim to reduce debt but instead to maintain a stable rate of just over 30% of debt to GDP. It was not a budget to reduce debt.