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A preview of the 2017 federal budget under the Liberal government

2017 Federal Budget©

On 22 March 2017, the Minister of Finance, Honourable William Francis Morneau tabled the Liberal government's second budget (hereinafter known as the Budget) after winning the federal election in 2015. The following are not an exhaustive list of changes proposed by the Budget.

Selected Personal Tax Changes

Selected Business Tax Changes

Billed-basis accounting election gets nixed in the Budget
Remarks

The budget deficit for 2016-17 rose slightly to $23 billion, and forecasts a deficit for the coming year of $28.5 billion, including a $3-billion "risk adjustment." Deficits are projected to gradually decline over the next 5 years but will still remain at $18.8 billion in 2021-22. This implies that the national debts will continue to rise with no reduction in the foreseeable future. Our children will bear the burden of our spendings.

[This page was added on 23 March 2017, last revised 23 March 2017.]