Canada: Possible tax changes after the federal election
Liberal Party’s election tax platform, insight into potential tax changes that may be seen as early as the end of 2021
Liberal Party’s election tax platform, insight into potential tax changes
The Liberal Party of Canada is set to form a minority government, given the results of the 2021 federal election on 20 September 2021.
During the campaign, the Liberal Party made many promises to introduce a variety of new tax changes that could significantly affect individuals and businesses in Canada. However, it is possible that some of these pledges could be modified before they are introduced.
Specifically, observers expected that the Liberal Party government would need to compromise with another federal party to attain the support required to get certain measures through Parliament and passed into law.
Read a September 2021 report [PDF 375 KB] prepared by the KPMG member firm in Canada that summarizes the Liberal Party’s election tax platform and that offers insight into potential tax changes that may be seen as early as the end of 2021.
This KPMG report also looks at campaign promises made by the Conservative Party (the official opposition) and by the New Democratic Party of Canada and the Bloc Québécois—two parties that potentially could form part of the governing collation required for legislation to be passed in the new minority Parliament.
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