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August 12, 2022

Canada's Department of Finance releases draft legislation for remaining 2022 budget measures

The Department of Finance on August 9, released for public comment draft legislative proposals (and accompanying explanatory notes) to implement most of the remaining income tax measures from the 2022 federal budget, as well as various other measures (such as certain measures outstanding from the 2021 federal budget) that were previously included in the draft legislative proposals released on February 4, as amended (where applicable) to take into account comments received since their initial release. The Department of Finance also released a separate package of draft technical amendments on August 9, relating to various previously enacted income tax measures, as well as draft legislative and regulatory proposals relating to the Excise Tax Act (GST/HST), the Air Travelers Security Charge Act, the Excise Act, 2001, the Greenhouse Gas Pollution Pricing Act, the Underused Housing Tax Act and the Select Luxury Items Tax Act.

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


Full text of Tax Alert