2014 federal budget analysis

Fuller Landau team • March 03, 2014

The Minister of Finance Jim Flaherty presented his 2014 Federal budget in the House of Commons yesterday. As expected, the new budget included no new taxes, closed a number of perceived tax loopholes, and committed to a balanced budget in 2015.  As part of the budget, there are also a number of tax changes that will impact owner managers and private companies operating in Canada. Please listen to our podcast to learn about some highlights including:
• GST elections changes
• Changes to the tax treatment of testamentary trusts and elimination of the tax benefits provided to immigration trusts
• Changes to thin capitalization rules
• Changes to the timing of employer payroll remittances
• Kiddie tax changes


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