It is unclear whether the tax measures announced in the 2024 fall economic update will be enacted.
The federal government on December 16, 2024, issued the 2024 fall economic update, which includes proposals to:
Due to ongoing uncertainty in Parliament, it is unclear whether the tax measures announced in the 2024 fall economic update will be enacted. Because Canada has a minority federal government, these tax measures cannot be passed into law without the support of opposition political parties.
Read a December 2024 report prepared by the KPMG member firm in Canada