Canada - Potential tax measures to appear in 2014 budget  

January 28: The Finance Minister of Canada announced that the Conservative government’s 2014 federal budget will be delivered on 11 February 2014.

According to media reports, the government plans to deliver a “bare-bones” budget as a low-key event, with a more significant budget and possibly tax breaks coming in 2015, the next election year. Nevertheless, tax professionals in Canada expect a range of tax measures in this year’s budget, with the government maintaining its focus on tax fairness measures and tightening the tax system by closing “tax loopholes.”

The government is expected to comment on the OECD’s push for greater tax transparency and its ambitious Action Plan on Base Erosion and Profit Shifting (BEPS).

The KPMG member firm in Canada is providing a budget highlights webcast late in the afternoon on budget day, 11 February 2014.

Read a January 2014 report prepared by the KPMG member firm in Canada: Federal Budget 2014 — Look for More Tax Tightening Measures

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