2023 Federal Budget

Commentary
Federal Budget

By NEI Investments

Summary:

2023 Federal Budget highlights provisions relevant to savings, investment and financial planning of individuals, families and small businesses.

Highlights

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On Tuesday March 28, 2023, Finance Minister Chrystia Freeland tabled the Liberal government’s 2023-24 Federal Budget in Parliament, with the document subtitled: “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future”.

Note that a Budget is a statement of the governing party’s intention. Until passed into law, its content is to be considered as proposals, particularly where the ruling party has a minority of the seats, as is the case presently.

This summary highlights provisions relevant to savings, investment and financial planning of individuals, families and small businesses. We begin with a summary of current tax rates, then turn to the Budget’s themes:

Federal Income Tax Brackets & Rates
Making Life More Affordable
Health and Dental
Education and students
Savings and retirement
Workers
Lifestyle
Small business and workers
Tax compliance

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