Federal budget: Business, international tax implications

By Darren Hueppelsheuser ( April 11, 2022, 9:01 AM EDT) -- The Department of Finance released the Canadian federal budget on April 7 (Budget 2022). While some of the measures won’t be directly applicable to legal practice, there are a number of measures that will impact lawyers and be important for practice. This year didn’t have anything similar to the mandatory disclosure rules from Budget 2021 which can require lawyers to take positive reporting steps, but an awareness of certain measures from Budget 2022 and their effective timing will be important to lawyers in advising clients. There are two main categories worth noting: business income tax measures and international tax measures....