2023 Fall economic update summary – Federal
On November 21, 2023, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the 2023 Fall Economic Update. This update proposes new measures aimed at making changes, in particular, to the Underused Housing Tax, supporting employee ownership trusts, providing amendments to concessional loans and expanding eligibility for the Clean Technology and Clean Electricity Investment Tax Credits.
Here are the highlights of the 2023 fall economic update.
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Underused Housing Tax Act
Underused Housing Tax Act: Very broad scope and new disclosure requirement for many residential property owners
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Liliane Fortier Associate Partner – Tax Leader Montreal
