Borden Ladner Gervais LLP provides an in-depth overview of this year’s Canadian federal budget
Our Canadian firm, Borden Ladner Gervais LLP, recently published an article examining the Trudeau Administration’s federal budget for 2022, which proposes two new measures aimed at ensuring financial institutions help pay for the more than $350 billion spent fighting the COVID pandemic.
Budget 2022 proposes to introduce the CRD, a one-time 15 per cent tax on bank and life insurer groups determined based on a corporation’s taxable income for taxation years ending in 2021, and an investment tax credit for carbon capture, utilization, and storage (CCUS).
In addition to the tax measures, the Government is looking to invest in key issues confronting Canada in the next five years.
Read the full article here.
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