Ontario’s Finance Minister Peter Bethlenfalvy delivered the province’s 2024 budget on March 26, 2024. The budget anticipates a deficit of $3 billion for 2023-24 and projects deficits of $9.8 billion for 2024-25 and $4.6 billion for 2025-26. Although the budget does not include any new changes to the corporate or personal tax rates, it extends the gasoline tax and fuel tax rate reductions until December 31, 2024 (instead of June 30, 2024) and amends the eligibility requirements for the Ontario Computer Animation and Special Effects Tax Credit, among other changes.

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