Best Accountants in Fort Saskatchewan, AB

Commentary on the Federal Budget 2023 A. Personal Measures Modifications to the alternative minimum tax regime focused on high-income individuals. A one-time grocery rebate equal to two quarterly GST/HST credit payments. Additional flexibility and possibilities with Registered Disability and Registered Education Savings Plans were introduced. B. Business Measures Modifications to the intergenerational business transfer rules to set requirements for activity by the children in the business and the transfer of control, equity ownership and management from the parents to the children. Introduction of the employee ownership trust structure to provide a mechanism for business owners to transfer ownership in their private corporations to employee groups. Several investment tax credits and other incentives were introduced or modified to encourage investment in clean energy. C. International Measures Confirmation of the government’s intention to introduce legislation implementing the income allocation rule and a domestic minimum top-up tax applicable to Canadian entities of multinational enterprises consistent with the OECD’s BEPS initiatives.