2023 Federal budget summary

On March 28, 2023, Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented Budget 2023: A plan to build a stronger, more sustainable, and more secure economy for everyone.

The budget proposes new measures to:

facilitate intergenerational business transfers
facilitate the use of Employee Ownership Trusts an additional option for succession planning
strengthen the General Anti-Avoidance Rule
better target the Alternative Minimum Tax for High-Income Individuals
invest in building Canada’s clean economy
making life more affordable
make dental care affordable for Canadians.

The budget also proposes a responsible fiscal plan that will see Canada maintain the lowest deficit and the lowest net debt-to-GDP ratio in the G7.

Here are the highlights of the 2023 budget.