News Analysis
OTTAWA—Flying under the radar of Budget 2023‘s spending and deficits are a couple of tax hikes on wealthy individuals and corporations that were telegraphed a year ago. But analysis shows that such tax hikes can impact people who are simply using well-established tax deductions, and a tax expert says they can also adversely impact business investment. 
These measures are part of a section where the feds say they are working toward a “fair tax system.”
Budget 2022 planted the seeds for changes to Canada’s alternative minimum tax (AMT) on wealthy individuals, saying it had not been substantively updated since its introduction in 1986. Along with that, the government launched a public consultation on the global minimum tax of 15 percent on multinational corporations, championed in 2021 by the Organisation for Economic Co-operation and Development (OECD)….