Although the government has signalled that this year’s budget may largely focus on themes such as health care and clean energy, any specific details on what measures may be under consideration are kept under wraps until the budget is released. However, the government has provided some indications about what could be in store this year in recent announcements, past federal budgets and the 2022 Federal Fall Economic Update. Among other possible measures, the government may announce further details on clean technology and energy credits, a 2% share buyback tax on certain corporations, a new minimum tax on high-net-worth individuals and a review of the Scientific Research and Experimental Development (SR&ED) program, including consideration of a patent box regime. It will be also interesting to see whether Finance proposes measures to address new climate-related U.S. tax incentives.
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