2017 Federal Budget
The federal government recently released its new budget, and it's always worth staying up to speed with what they're thinking, not thinking, and what may be changing that could affect you.CALU (Conference for Advanced Life Underwriting) annually summarizes the budget and you can see that summary here. But there are just a couple of quick highlights worth noting:
There are no changes to the capital gains rates.
They may do another "update" this fall.
They are starting to take a closer look at income splitting and private corporations, and are considering what changes they may choose to introduce.
The deduction rate for oil and gas exploration expenses is dropping from 100% to 30%. Not great news for us in the West.
Again, we encourage you to read through this short, but well-written summary of the budget changes and, as always, welcome your questions.
