CPA Canada’s 2016 Federal budget brief

What does the new Liberal government have in store for their first federal budget? CPA Canada offers expert opinion and commentary on budget day.

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CPA Canada’s Budget Brief 2016 offers its insights and views on measures announced in today’s federal budget.

2016 Federal budget highlights

  • The budget deficit is expected to be $29.4 billion in 2016-17, gradually declining to $14.3 billion in 2020-21. Government debt will increase by over $100 billion and annual interest on the debt will increase by $10 billion. The Debt/GDP ratio will only decrease slightly by 2020-21.
  • The budget introduces the Canada Child Benefit to assist families. However, to help contain the costs of the program, the benefit is being phased out at a more accelerated rate than originally proposed. The fiscal blueprint also outlines plans and commitments for infrastructure spending. 
  • Funding to help improve taxpayer services at the Canada Revenue Agency was unveiled. As well as proposed actions to enhance the integrity of Canada’s tax system on both the domestic and international fronts. The budget provides increased resources for better enforcement of the tax laws. 

Download your copy of CPA Canada’s Budget Brief 2016.