Corporate Tax Rates and Legislation: Q1 2024 Accounting status
– Legislative changes affecting income taxes from January 1 to March 31, 2024 are outlined.
– Federal Bill C-59, related to the 2023 federal budget, received second reading on March 18, 2024.
– The federal budget will be presented on April 16, 2024.
– Some provinces and territories have tabled legislation to implement budget measures, but none relate to general corporate income tax changes.
– No significant updates related to the accounting for income tax occurred from January 1 to March 31, 2024.