BUDGET 2016- Out with the Old – In with the New
Introduction
On March 22, 2016, Finance Minister Bill Morneau tabled his first Federal Budget. After 10 years of Conservative Budgets, this one feels different. It may be a matter of style and tone but there are also substantive changes.
Many measures previously proposed by the Conservatives were not proceeded with. Of note here is the Budget 2015 proposal and related July 31, 2015 draft legislation, providing an exemption from capital gains on the disposition of private company shares or real estate when cash proceeds of sale are gifted to charity.