Chapter 8: Tax Fairness for Every Generation

Canada is one of the wealthiest countries in the world. For generations, this has meant Canada is a place where
everyone could secure a better future for themselves and their children. This is in no small part is due to our
commitment to progressive taxation, investments in Canada’s strong social safety net, and an effective,
efficient government. Together, Canada’s tax and benefit systems have supported equality of opportunity
for generations of Canadians.
In the last few decades, the pathways enjoyed by generations of Canadians to build a middle class life have
come under pressure. From the pandemic’s disruptions of the global economy to chronic underinvestment in
housing by previous governments, the cost of living crisis and the global shift to a winner-take-all digital
economy, those at the top have been getting richer while younger generations struggle to buy a first home and
afford to start a family.
Today, younger Canadians—through no fault of their own—are too often finding that their hard work is not
paying off. That’s not fair.
Canada’s potential must be leveraged to fix this; we must invest to ensure younger generations have the
same opportunities as those before them.
That is why the federal government is taking action to build a fairer future, with transformative investments
in housing, innovation, the clean economy, and in younger generations. We’ll unlock the promise of Canada,
so every generation can build a better life, as their parents and grandparents did before them. It is crucial
that the government make sure younger Canadians can afford to get a good education and in-demand skills, buy a
home, raise a family, and build a good middle class life.
Canada’s fiscally responsible economic plan and our AAA credit rating are the foundation for the
stability of our economy. They make Canada a safe and attractive destination for investment and create business
certainty. Financing the investment we need through more debt would be unfair to young Canadians—we want them to
inherit prosperity, not our unpaid bills.
We have a better, fairer option. We are making the responsible choice.
The government is asking the wealthiest Canadians to pay their fair share.
Budget 2024 proposes new measures that will make the tax system more fair and generate $21.9 billion in
revenue over five years to invest in building more homes, faster, creating good-paying jobs, and incentivizing
economic growth that delivers fairness for every generation.
Analysis by the Parliamentary Budget Officer shows that in 2019 the top 1 per cent held 24.9 per cent of
Canada’s household wealth.
At a time when middle class Canadians are struggling to get ahead, when their hard work isn’t paying off,
the government is improving the fairness of the tax system. We are asking the wealthiest Canadians to contribute
a bit more, so that we can make investments to ensure a fair chance for every generation.

8.1 Tax Fairness

Key Ongoing Actions

Helping the Middle Class Save Tax-Free
Tax-sheltered savings plans enable most Canadians to earn their investment income tax free. An eligible
Canadian with taxable income of $100,000 in 2023 can contribute up to $18,000 to their Registered Retirement
Savings Plan (RRSP), $8,000 to their Tax-Free First Home Savings Account (FHSA), and $7,000 to their
Tax-Free Savings Account (TFSA) in 2024 is in addition to any unused saving room from prior years.

• Investment income, including capital gains, earned in an RRSP, FHSA, or TFSA is not taxed.
• Contributions made to an RRSP or FHSA can be deducted from a person’s income in the year they are
  made, reducing taxes.
• Withdrawals from an FHSA are tax-free.

Hard work should pay off. And Canada’s tax system should be fair. By investing in housing, students,
researchers, post-secondary institutions, child care, and good-paying job opportunities, we can restore the
value of hard work and unlock the full potential of Canada’s younger generations. Canada’s future
success depends on their success. It is only fair that these important investments are funded by those who have
benefited the most from all the opportunity that Canada has to offer, including the top 1 per cent.
Canada’s tax system can be more fair. The wealthy are currently able to benefit from tax advantages that
middle class Canadians and, especially, younger Canadians are rarely able to benefit from. And, due to the
global corporate tax race to the bottom, the biggest multinational corporations do not always pay their fair
share. 
Canada’s potential must be leveraged to fix this; we must invest to ensure younger generations have the
same opportunities as those before them and to ensure the way we fund these generational investments is
fundamentally fair— to Canadians today, and tomorrow.
Our tax system needs to work better for nurses, teachers, construction workers, servers, labourers, and young
professionals—those in the middle class, and those working hard to join it.
Those with the greatest ability to pay should contribute more to help fund the social safety net that benefits
all Canadians. To grow the middle class and invest in younger Canadians—while keeping their taxes lower—new
generational investments in Budget 2024 will be supported by contributions from the wealthiest Canadians.

Improving Tax Fairness

Canadians pay tax on the income from their job. But currently, they only pay taxes on 50 per cent of capital
gains, which is the profit generally made when an asset, such as stocks, is sold. This is the capital gains tax
advantage.
While all Canadians can benefit from the capital gains tax advantage, the wealthy, who tend to earn relatively
more income from capital gains, disproportionately benefit compared to the middle class (Chart 8.2). In 2021,
the top 1 per cent earned 10.4 per cent of all income in Canada; when capital gains are factored in, this jumps
to 13.4 per cent.
Tax fairness is important for every generation, and it is particularly significant for younger Canadians. In
2021, only about 5 per cent of Canadians under 30 had any capital gains at all.
The current regime may result in situations where wealthy individuals face a lower marginal tax rate on their
capital gains than what a middle class worker would face on their earnings. For instance, a nurse in Ontario
earning $70,000 would face a combined federal-provincial marginal tax rate of 29.7 per cent. In comparison, a
wealthy individual in Ontario with $1 million of income would face a marginal tax rate of 26.8 per cent on their
capital gains.
Differences in taxation rates between income earned from wages, capital gains, and dividends currently favour
the wealthiest among us.

The government is committed to a fair and progressive tax system. By increasing the capital gains inclusion
rate, we will tackle one of the most regressive elements in Canada’s tax system. Our government is proud
to be reducing this inequity. Taxing capital gains is not an inherently partisan idea. It is an idea that
everyone who cares about fairness can support.
In fact, the idea of taxing capital gains in Canada first got traction with the government of Prime Minister
John Diefenbaker and the Royal Commission on taxation, chaired by Kenneth Carter. In the Royal
Commission’s report, Carter declared that fairness should be the foremost objective of the tax system,
famously insisting “a buck is a buck is a buck”. As of 1990, the government of Prime Minister Brian
Mulroney had raised the capital gains inclusion rate to 75 per cent.
To make Canada’s tax system more fair, the government is proposing an increase in taxes on capital gains.

The proposed higher inclusion rate on capital gains would result in more equitable marginal tax rates across
revenue sources and income levels. In particular, the proposal would increase the average federal-provincial
marginal tax rate on capital gains above $250,000 of someone earning $1 million a year, to 35.7 per cent (chart
8.3).

To ensure this increase in the capital gains inclusion rate is concentrated among the wealthiest, while keeping
taxes lower on the middle class, the first $250,000 of capital gains income earned by Canadians each year will
not be subject to the new two-thirds inclusion rate. Business owners will have access to this exemption from the
increased inclusion rate as individuals.
Next year, 28.5 million Canadians are not expected to have any capital gains income, and 3 million are expected
to earn capital gains below the $250,000 annual threshold. Only 0.13 per cent of Canadians with an average
income of $1.4 million are expected to pay more personal income tax on their capital gains in any given year
(Table 8.1).
As a result of this, for 99.87 per cent of Canadians, personal income taxes on capital gains will not
increase.

Table 8.1

Canadians With Capital Gains Income, 2025 Projections

	Number of people1	Share of all people	Average gross income, including capital gains
Capital gains above $250,000	40,000	0.13%	$1,411,000
No capital gains or less than $250,000	31,531,000	99.87%	$60,000
Notes: Population is projected share of T1 filers. Does not account for behavioural responses to increase in capital gains inclusion rate. 1 Capital gains are net of those for which the Lifetime Capital Gains Exemption is claimed.

In addition to the $250,000 threshold for the new rate, middle class Canadians will continue to benefit from
tax-free savings accounts, the principal residence exemption, and exemptions for registered pension plans. The
following examples of tax-sheltered middle class savings will not be impacted by reducing the capital gains tax
advantage:

For Canadian businesses, only a small minority will be affected by these changes: in 2022, only 12.6 per cent
of Canada’s over two million corporations had capital gains (Table 8.2).

Table 8.2

Corporations With Net Capital Gains Income, 2022

	Number of corporations	Share of all corporations	Average taxable income1
Capital gains	307,000	12.6%	$702,000
No capital gains	2,124,000	87.4%	$174,000
Notes: 1 Data do not adjust for income of related corporations.

The proposal would reduce the tax rate differentials that currently exist between the various sources of
income, for instance between dividends and capital gains.  A more neutral system in this regard has the
additional advantage of reducing tax planning incentives.
Increasing the capital gains inclusion rate is not expected to hurt Canada’s business competitiveness.
The Marginal Effective Tax Rate (METR) is an estimate of the level of taxation on a new business investment,
accounting for federal, provincial, and territorial taxation, as well as investment tax credits, and capital
cost allowances. It is one of the main metrics for comparing the level of taxation on a new business investment
between countries. Maintaining a competitive METR is important for Canada’s attractiveness as an
investment destination.
Canada’s average METR is the best in the G7, and far more advantageous than in the U.S. and other OECD
countries. Increasing the fairness of capital gains taxation will not impact Canada’s METR score.

It is estimated that this measure would increase federal revenues by $19.4 billion over five years starting in
2024-25.
Increasing the inclusion rate on capital gains is also expected to generate significant new revenue for
provincial and territorial governments, equivalent to up to 60 per cent of the new federal revenue. For
provinces and territories, this new revenue can be used to lift up every generation by making transformative
investments in housing, health care, education, child care, infrastructure, and more.

A Tax Break for Entrepreneurs

To start and scale-up a business, entrepreneurs need access to capital. In the early growth stages, accessing
the necessary capital to make investments in their workforce, cutting-edge technologies, and new offices, labs,
or manufacturing facilities can be difficult. While some entrepreneurs rely on venture capital or loans, the
government recognizes funding is not available to all entrepreneurs, and even when available, may not be
sufficient.
Entrepreneurs need more support to drive Canada’s economic growth, increase productivity, patent new
innovations, and create good-paying jobs. Providing a partial lifetime capital gains exemption for entrepreneurs
will enable them to recycle more capital towards their next goal, whether it be a new company, an investment in
a promising start-up, or a comfortable retirement.

Ultimately, when the Canadian Entrepreneurs’ Incentive is fully implemented, and combined with the
increased total lifetime capital gains exemption of $1.25 million, entrepreneurs will benefit from at least
$3.25 million in total and partial lifetime capital gains exemptions. Entrepreneurs with eligible capital gains
of up to $6.25 million will be better off under these changes. In practice, these numbers will likely be higher
to reflect the inflation adjustment for the lifetime capital gains exemption and the ability to spread capital
gains over multiple years.

Ensuring entrepreneurs benefit from their innovations

Kate founded a fintech start-up several years ago, and decides to accept an offer to sell her company to a
large fintech company, which will use its resources to scale-up her technology. She earns $2 million in
capital gains on this sale.
Kate has already used her increased lifetime capital gains exemption of $1.25 million when she sold
some of her business shares to a business partner.
Currently, Kate would pay tax on $1 million—or 50 per cent of her $2 million in capital gains.
When the Canadian Entrepreneurs’ Incentive is fully implemented, Kate would only pay tax on 33 per
cent of the $2 million—$667,000. The incentive reduces her taxable income by $333,000 when selling her
business.

Ensuring Global and Digital Corporations Pay Their Fair Share

The global corporate tax race to the bottom undermines Canada’s ability to make investments at home that
help restore fairness for every generation. Our tax base needed to pay for a sustainable social safety net is
weakened, and responsibility to fund these programs is unfairly distributed and passed on to the next
generation. This must change to ensure fairness for younger Canadians today, and tomorrow.
In Canada, we are laser focused on making sure the largest global corporations pay their fair share.
That’s why Canada strongly supports the two-pillar tax reform plan agreed to in 2021 by members of the
OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting.

Pillar One and the Digital Services Tax

Pillar One would ensure that the largest and most profitable global corporations, including large digital
corporations, pay their fair share of tax in the jurisdictions where their users and customers are located.
Canada reaffirms its commitment to Pillar One and will continue to work diligently to finalize a multilateral
treaty and bring the new system into effect as soon as a critical mass of countries is willing. However, in view
of consecutive delays internationally in implementing the multilateral treaty, Canada cannot continue to wait
before taking action.
In October 2021, the government agreed to pause the implementation of Canada’s Digital Services Tax,
first announced in 2020, until the end of 2023, to give time for Pillar One negotiations to conclude. Meanwhile,
at least seven other countries (Austria, France, India, Italy, Spain, Türkiye, and the United Kingdom) continue
to apply their Digital Services Taxes.
The government is moving ahead with its longstanding plan to enact a Digital Services Tax. This will ensure
digital businesses that monetize the data and content of Canadian users are paying their fair share, and that
Canada is not at a disadvantage relative to other countries. Implementing legislation is currently before
Parliament in Bill C-59.
Consistent with Canada’s position since 2021, and subject to Parliamentary approval of the legislation,
the tax would begin to apply for calendar year 2024, with that first year covering taxable revenues earned since
January 1, 2022.
Canada is committed to continue working with international partners in view of its preference for an
internationally agreed approach.
It is estimated that the Digital Services Tax will increase revenues by $5.9 billion over five years starting
in 2024-25.

Pillar Two and the Global Minimum Tax

Pillar Two of the plan is a global minimum tax regime to ensure that large multinational corporations are
subject to a minimum effective tax rate of 15 per cent on their profits wherever they do business. The federal
government is moving ahead with legislation to implement the regime in Canada, following consultations last
summer on draft legislative proposals for the new Global Minimum Tax Act. The government intends to
soon introduce this legislation in Parliament. 
It is estimated that the global minimum tax, which will apply for fiscal years of taxpayers that begin on or
after December 31, 2023, will increase revenues by $6.6 billion over three years starting in 2026-27.

8.2 Modernizing Canada’s Tax System and Better Services for Canadians

Each day, millions of Canadians interact with the government when they access the services and benefits,
including those delivered through the tax system, that have important roles in improving their quality of life
and building a stronger, more competitive Canada. Canadians should be able to count on efficient, timely, and
high-quality services from the federal government. That is why the government has been making sustained
investments to make the tax system and other services easier to use and more convenient for Canadians.
Budget 2024 proposes new investments to simplify tax services and deliver benefits and services through modern
technologies that are designed to meet the evolving needs of Canadians, including over ten million Canadians
receiving benefits worth over $150 billion annually from Old Age Security, Employment Insurance, and the Canada
Pension Plan.

Key Ongoing Actions

Automatic Tax Filing for Low-Income Canadians

Canadians should be able to easily and quickly receive the benefits to which they are entitled. However,
lower-income Canadians, as well as younger Canadians, may not receive their benefits—such as the Canada Child
Benefit and Canada Carbon Rebate which make life more affordable—because of the difficulty of filing a tax
return.
In February 2024, the Canada Revenue Agency (CRA) increased the number of eligible Canadians for SimpleFile by
Phone (formerly File My Return) to 1.5 million people, more than double the number of people eligible last
year. The CRA is on track to increase this number to two million by 2025.

The CRA will engage leading experts and industry to identify further opportunities to help more Canadians
receive the benefits designed to support them. CRA will provide an update on this work in fall 2024.

Automatic tax filing pilot

Johnny lives in Manitoba and has never filed a tax return, and as a result is missing out on benefits such as
the GST Credit, Canada Carbon Rebate, provincial rent credits, and possibly others that help make life more
affordable.

Johnny’s primary source of income is social assistance, which means he may be invited to participate in
the SimpleFile pilot. Johnny would not have to fill out complex forms. The CRA would use the
information it has on hand for him and his responses to a series of short simple questions, including
information on his rent payments which the CRA does not otherwise have, to complete and file his tax return,
thereby unlocking the government support to which he is entitled.

Reducing CRA Call Centre Wait Times

Canadians deserve high-quality and timely access to government services. However, when calling the Canada
Revenue Agency (CRA), Canadians often face long wait times—which delay Canadians from getting help with filing
their taxes and receiving the benefits they are entitled to.
To ensure Canadians get timely answers to their tax questions, the government is continuing to support CRA
call centre operations.

A Single Sign-In Portal for Government Services

Canadians and businesses shouldn’t have to remember multiple passwords to access the services and
programs they rely on. However, there are currently over 60 different Government of Canada systems each
requiring their own separate log-in and passwords to access. That is too many.
Fast and efficient delivery of government services and programs is critical to ensuring Canadians and
businesses are supported as intended.

Expanding Tax Transparency to Crypto-Assets

Just as crypto-assets pose financial risks to middle class Canadians, the rapid growth of crypto-asset markets
poses significant risks of tax evasion. Regulation and the international exchange of tax information must keep
pace with tax evasion threats in order to ensure a fair tax system.
The OECD has agreed to a new reporting framework for crypto-asset transactions and improvements to the Common
Reporting Standard to ensure that new digital technologies cannot be used to avoid existing reporting
requirements.

Towards a Healthier, Nicotine-Free Generation

Enticed by appealing marketing, Millennials and Gen Z are picking up new forms of old bad habits, vaping nearly
as frequently as the baby boomers smoked cigarettes. The government is taking action to protect the next
generation from harmful, cancer-causing habits.
Nothing is more valuable than a long and healthy life. Smokers could live about ten years less than the
general population. This is, in part, because people who smoke are 25 times more likely to die from lung cancer
compared to someone who has never smoked. Treating preventable diseases puts a heavy burden on our universal
public health care systems—a burden all Canadians pay for through taxes and longer wait times.
In addition to raising revenues, a more robust federal excise duty framework for tobacco and vaping products
could help to lower smoking rates towards Canada’s target of less than five per cent tobacco use by 2035,
as well as lower vaping rates among younger Canadians.

Improving Benefit Delivery

Canadians deserve efficient and easy access to their federal benefits, such as Old Age Security and Employment
Insurance. However, the IT systems used to deliver these benefits are aging.
After years of underinvestment and deferred modernization, the government has taken action in recent years to
make critical IT upgrades. These will ensure that benefits are delivered quickly, reliably, and securely to the
millions of Canadians collecting benefits today, as well as to those who will collect benefits in the decades to
come.

The government also remains committed to implementing an ePayroll solution which would reduce the reporting
burden on Canadian businesses, especially small businesses, while modernizing and improving how benefits are
provided through the Employment Insurance and tax systems.

Canada Child Benefit for Grieving Families

Grieving families should not be worried about their finances during the most difficult of life circumstances.
However, some families who have lost a child may currently receive correspondence from the government requiring
them to repay any Canada Child Benefit amount received after their child’s death.
To support parents who have lost a child, the government is providing new support through the Canada Child
Benefit to ensure they can focus on what matters most—healing.

This proposed change is expected to cost $15 million over five years, starting in 2024-25, and $4 million per
year ongoing.

8.3 Effective, Efficient Government

To focus spending on what matters most—investing in Canadians, unlocking opportunity for younger Canadians, and
restoring fairness for every generation—the government must ensure the operations of government are cost
effective.
As our country grows and demographics shift, such as Millennials recently overtaking baby boomers as the
largest age group, the government must adapt to the changing needs of Canadians. That’s why the government
is continuously evaluating demand for services and programs, and adjusting investments accordingly—ensuring
Canadians have the support they need, when they need it.
Budget 2024 announces new measures to ensure the effective operation of federal government programs and
services, and ensuring that Canadians’ tax dollars are being used efficiently on the programs that matter
most to them. 

Responsible Government Spending

Budget 2023 and the 2023 Fall Economic Statement announced a total of $15.8 billion in savings over
five years, and $4.8 billion ongoing, to be refocused towards the priorities that matter most to Canadians
today, including health care, dental care, and investments in Canada’s economic plan.
Over the past year, the government carried out the first phase of refocusing government spending, identifying
areas of duplication, low value for money, or lack of alignment with government priorities, with a particular
focus on travel and consulting. Care was taken to ensure that departments and agencies could meet their
reallocation targets without impacting direct benefits and service delivery to Canadians; direct transfers to
other orders of government and Indigenous communities; and the Canadian Armed Forces. Results of this first
phase are outlined in the Main Estimates, 2024-25 and the 2024-25 Departmental Plans.

Canadians know how important it is to responsibly manage a budget while at the same time contending with rising
costs, and they rightly expect the government to do the same. This measure will not impact the delivery of
benefits to Canadians and will be implemented in a way that continues to support regional representation and a
diverse public service workforce.
Going forward, the government will continue to review spending across departments and on key initiatives to
ensure the government operates effectively and efficiently for Canadians. Ongoing reviews of government spending
and programming are an important component of managing public finances in a prudent and responsible manner.

Strengthening Integrity in the Public Service

The government is taking action to enforce and uphold the highest standards of procurement to ensure sound
stewardship of public funds. This work is critical to ensuring Canadians trust that federal institutions are
efficient and effective. As part of this work, the government has recently implemented additional robust
standards to strengthen oversight and hold public servants to the highest of ethical standards.
On March 20, 2024, the Minister of Public Services and Procurement and the President of the Treasury Board
announced a series of new actions to strengthen the government’s procurement and conflict of interest
regimes:

These actions will ensure transparency in contracting and leverage data analytics to identify and immediately
take action to resolve any potential anomalies in billing. These changes will also ensure that public servants
clearly understand and abide by their responsibilities with respect to engaging in outside employment.

Government Procurement to Boost Innovation

Public procurement can be a tool to drive innovation and support Canadian businesses bringing new, cutting-edge
solutions to market. Federal purchasing power can and should be leveraged to better support small businesses and
innovators to grow the economy and create more good jobs for Canadians.

A proposal for targets will be outlined in the 2024 Fall Economic Statement.

Strengthening Cyber Security

Cyber security is more important than ever as Canadians increasingly interact with and receive benefits from
the government via digital services. The government is strengthening its tools to maintain digital services,
protect Canadians’ information, and improve the resilience of federal agencies in the face of emerging
cyber threats.

Deposit Insurance Review

The federal deposit insurance framework protects the stability of the financial system in Canada by protecting
Canadians’ savings and ensuring access to financial services in the unlikely event of a bank failure.
Maintaining the effectiveness of the deposit insurance framework requires ongoing assessment to adapt to the
evolving financial system and marketplace.

Predictable Capital Funding for Federal Assets

Federal real property and information technology systems are integral to everything the government does, from
delivering programs and services to Canadians, to supporting the economy and communities, and realizing broader
government objectives of accessibility and reducing emissions. Predictable capital funding for Public Services
and Procurement Canada to manage these assets provides long-term value and better enables the government to
serve Canadians.

Asylum System Stability and Integrity  

Around the world, the number of people displaced by political instability, conflict, poverty, and climate
change continues to rise. According to the UN Refugee Agency, in 2022, the worldwide number of new individual
asylum applications increased by 83 per cent compared to 2021. Canada is not immune to these dynamics, and more
than ever before, people come to Canada in search of safety and stability.
Canada’s asylum system, including the processes and rules guiding the work of the border officers,
immigration officials, and members of the Immigration and Refugee Board who process, investigate, and adjudicate
asylum claims, has struggled to keep up with the unprecedented number of asylum claims. This has resulted in
longer periods of uncertainty for those in legitimate need of protection and delayed removals of those with
denied claims.
To uphold the integrity and fairness of the asylum system: 

Chapter 8

Tax Fairness for Every Generation

millions of dollars

	2023-2024	2024-2025	2025-2026	2026-2027	2027-2028	2028-2029	Total
8.1. Tax Fairness	0	-6,715	-3,015	-5	-3,285	-4,670	-17,690
Improving Tax Fairness	0	-6,900	-3,370	-375	-3,660	-5,050	-19,355
A Tax Break for Entrepreneurs	0	185	355	370	375	380	1,665
8.2. Modernizing Canada’s Tax System and Better Services for Canadians	0	6	-153	-263	-252	-185	-847
Automatic Tax Filing for Low-Income Canadians1	0	10	11	11	11	11	54
Reducing CRA Call Centre Wait Times	0	249	87	0	0	0	336
A Single Sign-In Portal for Government Services	0	6	7	8	2	2	25
Expanding Tax Transparency to Crypto-Assets1	0	6	6	11	15	12	52
Toward a Healthier, Nicotine-Free Generation	0	-325	-350	-340	-330	-320	-1,665
Improving Benefit Delivery2	0	60	87	51	53	113	364
Less: Funds From CPP Account	0	-2	-5	-7	-7	-7	-27
Canada Child Benefit for Grieving Families	0	1	3	3	4	4	15
8.3. Effective, Efficient Government	0	141	336	176	237	188	1,077
Strengthening Cyber Security	0	14	14	15	3	3	49
Less: Funds Sourced from Existing Departmental Resources	0	-1	-1	-1	0	0	-3
Less: Costs to be Recovered	0	0	-4	-2	-1	-1	-8
Predictable Capital Funding for Federal Assets	0	44	114	23	120	66	368
Asylum System Stability and Integrity	0	83	213	142	150	156	743
Less: Funds Sourced from Existing Departmental Resources	0	0	0	0	-36	-36	-72
Additional Investments – Tax Fairness for Every Generation	35	77	-162	-179	-220	-238	-687
Manipulating Bankrupt Status	0	-85	-85	-85	-85	-85	-425
Budget 2024 announces the government’s intention to amend the Income Tax Act to address planning that involves the manipulation of the bankrupt status of an insolvent corporation as outlined in “Tax Measures: Supplementary Information”.
CRA Funding to Administer Previously Announced Measures	0	19	18	17	14	14	81
Funding proposed for the CRA and the CBSA to administer previously announced tax and other measures including the changes to the disbursement quota for charities, the federal fuel charge in the four Atlantic provinces, the vaping excise duty framework, and the short-term rentals measure.
Changes to the Alternative Minimum Tax Reform	35	131	122	113	113	108	622
Budget 2024 announces the government’s intention to revise the Budget 2023 Alternative Minimum Tax proposal as outlined in “Tax Measures: Supplementary Information”.
Improving Ability to Address Aggressive Tax Planning Schemes	0	3	4	4	4	4	18
Less: Projected Tax Revenue	0	-100	-100	-100	-100	-100	-500
Funding proposed for FIN to improve the integrity of the tax system. The resulting increase in development of tax legislation is estimated to provide additional federal revenues for the fiscal framework totaling $500 million over five years.
Enhancing the Security Posture of the Privy Council Office	0	8	9	9	9	5	40
Funding proposed for PCO to enhance physical and cyber security and expand access to secure communication technologies for senior leaders in the government.
Public Service Occupational Health	0	8	8	8	0	0	23
Funding proposed for HC for the Public Service Occupational Health Program to ensure federal organizations meet occupational health obligations under the Canada Labour Code.
Expediting Access to Information	0	22	28	28	3	3	84
Funding proposed for TBS and LAC to maintain the Access to Information and Privacy regime.
Investing in Operating the Canadian Coast Guard Fleet of the Future	0	49	78	86	92	93	397
Funding proposed for DFO to ensure the Canadian Coast Guard has the necessary training capacity, seagoing crew, support staff, and provisions to operate its future marine vessel fleet.
Government Human Resources and Pay Strategy	0	135	0	0	0	0	135
Funding proposed for PSPC and TBS to improve public service human resources and pay systems, including continuing work on a potential next generation pay solution.
An Accessible, Diverse, Equitable and Inclusive Federal Public Service	0	8	7	1	1	1	17
Less: Funds Sourced from Existing Departmental Resources	0	-1	0	0	0	0	-1
Funding proposed for TBS and PSC to support the Office of Public Service Accessibility, the Federal Internship Program for Canadians with Disabilities, and improve recruitment and assessment processes for persons with disabilities.
Support for the Office of the Public Sector Integrity Commissioner	0	1	1	1	1	1	5
Less: Funds Sourced from Existing Departmental Resources	0	0	0	0	0	0	-1
Funding proposed for the OPSIC to continue to deliver on its mandate of investigating disclosures and complaints under the federal government worker whistleblower regime.
Employment Insurance Revenues for Measures Included in Budget 2024	0	-119	-250	-261	-271	-281	-1,182
Includes Employment Insurance revenue for Extending Temporary Support for Seasonal Workers in section 4.2, Improving Benefit Delivery in section 8.2, and Employment and Social Development Canada Rent Price Adjustment in Table A1.16.
Chapter 8 – Net Fiscal Impact	35	-6,492	-2,995	-271	-3,520	-4,905	-18,147
Note: Numbers may not add due to rounding. A glossary of abbreviations used in this table can be found at the end of Annex 1. 1 Administrative costs for the Canada Revenue Agency. 2 Measure partially reimbursed by increased Employment Insurance premiums.