Federal budget 2022: What you need to know

The 2022 federal budget left some third rails of Canadian tax policy untouched: the principal residence exemption remains intact, and the capital gains inclusion rate remains 50%.

However, the feds introduced an anti-flipping tax as well as measures aimed at supporting new homebuyers. In good news for small business owners, eligibility for the 9% small business tax rate on the first $500,000 in active business income has expanded, and the government is consulting on Bill C-208.

Read all about these and other issues that matter to advisors.

Feds propose anti-flipping tax to cool housing prices

Large RRSP balances, Bill C-208 addressed in 2022 budget

Budget gives businesses greater access to small business rate

Feds set bank, insurer surtax at 1.5% for profits over $100M

Liberals to bring in new minimum tax on top earners

New home savings account a “substantial” measure for new buyers

Feds raise charities’ disbursement quota to 5%

Feds eye growth with $31B in new spending

Budget pulls tax levers to drive low-carbon shift

Ottawa to review crypto, CBDC

Budget promises more financial cops