Finance Minister Bill Morneau delivered the government’s 2019 federal budget on March 19, 2019.
The budget expects a deficit of $14.9 billion for fiscal 2018-2019 and forecasts deficits of $19.8 billion for 2019-2020 and $19.7 billion for fiscal 2020-2021.
Although the budget does not include any personal or corporate tax rate changes, it did include several measures affecting corporate and personal taxpayers. Among other notable changes, the budget announces a $200,000 annual cap on employee stock option grants that may receive tax-preferred treatment. While the budget indicates that the cap applies for employees of certain "large firms", it did not include full details on this measure and noted that Finance plans to release further details before the summer of 2019.
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