Deputy Prime Minister and Minister of Finance Chrystia Freeland tabled the 2024 federal budget yesterday. The budget contained few surprises, with the bulk of announcements having been rolled out over the past several weeks.

According to your Chamber, the major highlights for business in yesterday’s budget included:

• Carbon tax rebate cheques coming in months ahead.

• Starting two years from now, $200 million to increase availability of venture capital for the “equity-deserving entrepreneurs” of some start-ups.

• Tax changes to small- and medium-sized businesses, including the amount of tax-free capital gains on the sale of business shares and farming and fishing property, effective June 2024.

• Increase to capital gains inclusion rate — the portion of capital gains on which tax is paid – for individuals earning $250,000+ in capital gains in a year.

• Indirect (important) benefit of massive investment in housing supply on employee attraction/retention.

• Deficit projections to 2028-29 substantial but unchanged.

For more details, read the Canadian Chamber Budget insights here.