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June 24, 2022

Canada's 2022 Budget implementation bill receives Royal Assent

Bill C-19, Budget Implementation Act, 2022, No. 1, received Royal Assent on June 23. Bill C-19 implements certain tax measures announced in the 2022 and 2021 federal budgets, as well as various other measures, all of which were included in a detailed notice of ways and means motion tabled in the House on April 26. The bill includes amendments that were put forward by the House of Commons Standing Committee on Finance, as well as a further amendment, all of which were adopted by the House of Commons on June 9. Most notably, Bill C-19 contains new capital cost allowance (CCA) immediate expensing rules for Canadian-controlled private corporations (CCPCs), Canadian-resident individuals (other than trusts), and certain Canadian partnerships; a new rate reduction for zero-emission technology manufacturers; a new labor mobility deduction for eligible tradespeople and apprentices; and certain amendments affecting charities.

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


Full text of Tax Alert