Shedding Some Light on the 2018 Federal Budget | Equality + Growth: A Strong Middle Class

On February 27, 2018 the Honourable Bill Morneau, Minister of Finance, presented the 2018 Federal Budget, Equality + Growth: A Strong Middle Class, to the House of Commons.

The Government’s fiscal position includes a projected deficit in 2017-2018 of $19.4 billion, and projected deficits in the coming years as follows: 2018-2019 of $18.1 billion, 2019-2020 of $17.5 billion, 2020-2021 of $16.9 billion, 2021-2022 of $13.8 billion and 2022-2023 of $12.3 billion.

The Federal Government notes:

  • No change to the personal and corporate tax rates, nor inclusion rate on taxable capital gains.
  • $1.7 billion over five years to support research in big data.
  • $40 billion over ten years to create 100,000 new housing units and repair 300,000 units as part of the National Housing Strategy.
  • $1.4 billion in financing over three years for women entrepreneurs through the Business Development Bank of Canada.
  • $116 million over five years to the RCMP to support the National Cybercrime Coordination Unit.
  • $360 million over three years towards an Indigenous Early Learning and Child Care Framework for First Nations, Inuit and Metis Nation children.
  • $100 million over five years directed to Status of Women Canada to enhance the Women’s Program (training, skills development, community engagement).
  • $100 million for early learning and child care innovation, plus $95 million to better understand what child care looks like in Canada, over eleven years.
  • $75 million to support the Healthy Seniors Pilot Project in New Brunswick.
  • $90.6 million to CRA over five years to address additional cases of potential tax evasion/avoidance identified through enhanced risk assessment systems.
  • $41.9 million to the Courts Administration Service over five years, plus $9.3 million per year ongoing, including support for new front-line registry and judicial staff, most expected to support the Tax Court of Canada.


2018 Budget Image

Tax Highlights

A. Personal Income Tax (pdf)

B. Business Income Tax (pdf)

C. International Income Tax (pdf)

D.  Sales and Excise Tax (pdf)

E. Other Measures (pdf)

F. Previously Announced Measures (pdf)