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2014 Federal Budget Highlights 

    By Deb MacPherson, KPMG Enterprise
    February 11, 2014 @ 5:00 PM


    Finance Minister Jim Flaherty delivered Canada's 2014 federal budget earlier today, February 11, 2014. A special edition of TaxNewsFlash-Canada summarizing the announced tax changes is now available.


    For highlights of tax measures in the budget, see this edition of TaxNewsFlash-Canada.


    Budget measures of particular interest are: 

    • Kiddie tax on business and rental income of trusts and partnerships 
    • Loss of graduated tax rates on testamentary trusts 
    • Elimination of benefits of immigration trusts 
    • CCA rates for clean energy equipment 
    • Consultation to overhaul the eligible capital property regime 
    • Ability of estates to make donations 
    • Consultation on new NPO changes 
    • Higher remittance threshold for payroll deductions 
    • GST changes affecting joint ventures and closely related persons



Deborah A. MacPherson



Deb MacPherson is a partner with KPMG Enterprise in Calgary. 


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