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April 20, 2021

Canada's Federal Budget 2021-22 | A recovery plan for jobs, growth and resilience

Federal Finance Minister Chrystia Freeland tabled her first budget on April 19. This budget focuses on the priorities laid out in the 2020 Speech from the Throne: fighting the pandemic and saving lives, supporting people and businesses through the crisis, strengthening the middle class and helping people working hard to join it, creating jobs and building long-term competitiveness with clean growth, establishing a nationwide early learning and child care system, building safer communities for everyone, achieving progress on gender equality, walking the road of reconciliation and fighting discrimination of every kind, with support for women and Black entrepreneurs, as well as those from other underrepresented groups. The minister anticipates a deficit of $354.2 billion for fiscal 2020-21 and $154.7 billion for fiscal 2021-22, with reduced deficits for each of the next four fiscal years.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.


Full text of Tax Alert