For some reason, the lead time to the release of this year's Federal Budget seemed to really make me anxious. Since the summer of 2017 when Finance dropped the would be bomb on private corporations, I feel like I have been constantly looking over my shoulder to find out when the next hit might come. And with the government pulling back on a couple of their would-be proposals, I'm just waiting for the other shoe to drop.
And so, March 19, 2019 came and went, and I find myself asking "So, where is that shoe?" Now, I'm not much of a betting person, but I would have put money down that the feds would have at least introduced revised legislation to curb the ability to strip money out of a company at capital gains rates commonly referred to as a strip), rather than at higher dividend rates. And I would have lost that bet. In fact, the 2019 Federal Budget was quite benign. So, all that stress that came with days of fretting and weeks of running around implementing tax reorganization before March 19 were all for naught.
I've highlighted some of the more notable measures that I thought you might be interested in (please note that this is not an exhaustive summary of all proposals).
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