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office workers discussing 2022 Ontario Fall Economic Statement

Ontario’s 2022 Fall Economic Statement offers tax cuts for small businesses

The Ontario government released its 2022 Fall Economic Statement this week, with Doug Ford’s Conservatives touting improved fiscal news just as the province edges closer to a likely recession next year. Strong GDP performance, higher government revenue and near-full employment have put Ontario on a stronger financial footing—which could be compromised if the economy begins […]

Fall Economic Statement discussed in Toronto business district

Fall Economic Statement 2022 pledges fiscal responsibility while delivering new spending

Inflation remains stubbornly high, holiday season labour shortages are likely to cause havoc for some businesses and the Canadian economy is probably headed into at least a minor recession in early 2023. These headwinds aside, the federal government promised another $22.1 billion in new program spending while pledging greater fiscal responsibility in yesterday’s Fall Economic […]

2022 Ontario budget proposes major transit upgrades

2022 Ontario budget proposes major infrastructure investments, targeted tax credits

After more than two years of pandemic-related bad news, massive deficits and dire fiscal predictions, the Progressive Conservatives were clearly eager to drive home a message with the 2022 Ontario budget: We plan to build. That includes highways, schools, hospitals—you name it. The pre-election budget is not short on spending. In fact, it proposes a […]

home buying

Federal Budget 2022—Home-buying, climate change and personal tax highlights

The federal government approached Budget 2022 under immense pressure to address skyrocketing inflation, amid widespread uncertainty as we enter a sixth wave of the coronavirus pandemic and facing global supply chain woes and a geopolitical crisis stemming from the war in Ukraine. Factor in the Liberals’ minority government status—one stabilized by a recent confidence-and-supply agreement […]

Budget 2022 engineer focusing on innovation

Federal Budget 2022 offers minor tax relief for business, funding for innovation

The federal government’s Budget 2022 contained several new proposed measures, both from a personal and corporate tax perspective, in addition to various new spending initiatives and tax credits. These measures will have some impact on the business community, but when it comes to Canada’s economic outlook as a whole—including strategies to manage runaway inflation and […]

inflation graph

10 ways to mitigate the business impact of inflation

Businesses across Canada that navigated the pandemic storm and thought they were in the clear soon faced another major challenge: widespread inflation. Rising prices have impacted the cost of everything from labour and materials to machinery and services across sectors. The latest Statistics Canada data puts the official inflation rate at 5.7 per cent year […]

House of Commons and flag of Canada

What to expect when you’re expecting a spring federal budget

As surely as Ottawa’s chillingly-cold winters will soon shift to warmer spring weather, professionals and media are eagerly speculating about the potential contents of the upcoming federal budget—the spring 2022 installment of which is expected to be tabled in early April. A number of factors, both domestic and foreign, will strongly influence measures included in […]

person holding a maple leaf after Fiscal and Economic update 2021

Federal Fiscal and Economic Update 2021: Few gifts (or lumps of coal) for business

The federal government tabled its Fiscal and Economic Update 2021 last week and the business community across Canada wondered if it had been all but forgotten. The update was heavy on COVID-19 relief spending and made direct references to the potential uncertainty ahead—including the looming economic impact of the omicron coronavirus variant, global supply chain […]