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Canada: Possible tax agenda of new government

Canada: Possible tax agenda of new government

Canada’s new government issued “mandate letters” to both the Department of Finance and the Canada Revenue Agency (CRA) that confirm potential tax measures that were either proposed before the election or included in the Liberal Party’s election platform.

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The mandate letter to the Minister of Finance:

  • States that Finance's top priorities would include changes to implement the promises made during the election campaign
  • Asks Finance to finalize its amendments to limit the benefit of the employee stock option deduction for "high-income individuals employed at large, long-established mature firms"

The mandate letter to the Minister of National Revenue:

  • States that the CRA would prioritize work on client-based improvements—including leveraging data and emerging technologies, improving communications and looking for ways to simplify tax forms
  • Asks the CRA to seek new ways to counter tax avoidance and evasion, including enhancing existing whistleblower programs and working with international partners on this issue

Read a December 2019 report prepared by the KPMG member firm in Canada

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