The 2022 federal budget attempted to address some of the challenges facing Canadians, although issues around supply chains and rising costs remain.
While many of the announced measures in Budget 2022 are steps in the right direction, specifically in the housing sector, more can be done to reduce roadblocks in the real estate and construction sector. In this article, we break down several of the measures that could impact you and your business.
Business tax measures
Among the business-related tax measures announced in the budget was the change to the small business deduction, which has been expanded to include Canadian-controlled private corporations with higher capital balances. The budget proposed to increase the upper range of the taxable capital range to $50 million, from $15 million.
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