Budget 2024 - summary
On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the government’s budget. The budget was heavily focused on measures to address the ongoing housing crisis. A number of tax measures were introduced, including substantial changes to capital gains and new tax credits (i.e. New Canada Carbon Rebate for Small Businesses).
These are outlined in the summaries below:
Last year’s Budget contained a commitment to introduce new Supply Chain legislation in 2024 and called for renewed enforcement of the established prohibition on importing goods made with forced labour.
In a separate statement (in 2023) the Minister of Labour indicated that "The Government of Canada is working to build on the Fighting Against Forced Labour and Child Labour in Supply Chains Act passed into law in May 2023 to strengthen Canada's supply chain legislation, which could include the incorporation of due diligence obligations, to help ensure Canadian companies active abroad adopt responsible business practices."
Budget 2024 contains the following commitment:
Eradicating Forced Labour from Canadian Supply Chains
Canada is gravely concerned by the ongoing human rights violations against Uyghurs and Muslim minorities in China, as well as by the use of forced labour around the world.
Budget 2024 reaffirms the federal government’s commitment to introduce legislation in 2024 to eradicate forced labour from Canadian supply chains and to strengthen the import ban on goods produced with forced labour. The government will also work to ensure existing legislation fits within the overall framework to safeguard our supply chains.
Official Budget Documents
- Budget 2024
- (5,313 KB)
- Statement on Gender, Diversity, and Inclusion
- (1,772 KB)
- Tax Measures: Supplementary Information
- (1,966 KB)
Other Budget News