Category: insight
2 Min read | April 17, 2024

2024 Federal Budget

  • Commentary
  • Federal Budget
A view of our Canadian parliament

Summary:

2024 Federal Budget highlights provisions relevant to savings, investment and financial planning of individuals, families and small businesses.

Highlights

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On Tuesday April 16, 2024, Finance Minister Chrystia Freeland tabled the Liberal government’s 2024-25 Federal Budget in Parliament, entitled “Fairness For Every Generation”.

 

Note that a Budget is a statement of the governing party’s intention. Until passed into law, its content is to be considered as proposals, particularly where the ruling party has a minority of the seats, as is the case presently.

 

This summary highlights provisions relevant to savings, investment and financial planning of individuals, families and small businesses. We begin with a summary of current tax rates, then turn to the Budget’s themes:

 

  • Federal income tax brackets & rates
  • Personal tax changes
  • Working life and small business
  • Family and community
  • Housing affordability
  • Cost of living
  • Investing
  • Tax administration

 

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