[{"label":"Home","url":"https:\/\/www.pbo-dpb.ca\/en"},{"label":"Team","url":"https:\/\/www.pbo-dpb.ca\/en\/staff--equipe","section":{"id":1,"title_en":"About","title_fr":"\u00c0 propos"}},{"label":"Matt Dong","url":"https:\/\/www.pbo-dpb.ca\/en\/staff--equipe\/matt-dong","section":{"id":1,"title_en":"About","title_fr":"\u00c0 propos"}}]

Matt Dong is an Analyst at the Office of the Parliamentary Budget Officer. He holds an MA in Economics from Queen’s University and a Bachelor of Mathematics from the University of Waterloo. Prior to joining the OPBO, Matt worked at Statistics Canada on projects involving post-secondary education and language statistics.

Latest publications

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Restrictive monetary policy is expected to restrain growth in consumer spending in the first half of the year and to dampen residential investment over the course of this year. Inventory investment is projected to subtract from growth as businesses pullback on their stock building.","fr":"Le directeur parlementaire du budget (DPB) s\u2019attend \u00e0 ce que la croissance de l\u2019\u00e9conomie canadienne demeure l\u00e9thargique tout au long de 2024. La politique mon\u00e9taire restrictive devrait limiter la croissance des d\u00e9penses de consommation au cours de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e et freiner l\u2019investissement r\u00e9sidentiel tout au long de celle-ci. L\u2019investissement en stocks devrait freiner la croissance \u00e0 mesure que les entreprises reculent dans la constitution de leurs stocks."}},{"content":{"en":"As excess supply in the economy increases and commodity prices continue to weaken, PBO projects that Consumer price index (CPI) inflation will return to its 2 per cent target by the end of 2024. With CPI inflation on track to return to target later this year, we continue to expect the Bank of Canada to start lowering its policy rate in April.","fr":"Avec l\u2019augmentation de l\u2019offre exc\u00e9dentaire dans l\u2019\u00e9conomie et la baisse des prix des produits de base, le DPB pr\u00e9voit que l\u2019inflation de l\u2019indice des prix \u00e0 la consommation (IPC) reviendra \u00e0 sa cible de 2 % d\u2019ici la fin de 2024. L\u2019inflation de l\u2019IPC \u00e9tant en bonne voie de revenir \u00e0 sa cible plus tard cette ann\u00e9e, nous nous attendons toujours \u00e0 ce que la Banque du Canada commence \u00e0 baisser son taux directeur en avril."}},{"content":{"en":"PBO projects the budgetary deficit to rise to $46.8 billion (1.6 per cent of the Gross domestic product (GDP)) in 2023-24 from the $35.3 billion (1.3 per cent of GDP) deficit recorded in 2022\u201123. Assuming no new measures are introduced, and existing temporary measures sunset as scheduled, the deficit is projected to resume its downward trajectory, falling to $16.9 billion (0.5 per cent of GDP) in 2028-29.","fr":"Le DPB s\u2019attend \u00e0 ce que le d\u00e9ficit budg\u00e9taire augmente \u00e0 46,8 milliards de dollars (1,6 % du produit int\u00e9rieur brut (PIB)) en 2023-2024 par rapport au d\u00e9ficit de 35,3 milliards de dollars (1,3 % du PIB) enregistr\u00e9 en 2022-2023. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait revenir sur sa trajectoire descendante et passer \u00e0 16,9 milliards de dollars (0,5 % du PIB) en 2028-2029."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to increase from its 2022-23 level of 41.7 per cent, reaching 42.4 per cent in 2023\u201124 and 42.5 per cent in 2024\u201125. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 39.2 per cent in 2028\u201129 but remain well above its pre-pandemic level of 31.2 per cent of GDP in 2019\u201120.","fr":"Le DPB s\u2019attend \u00e0 ce que le ratio de la dette f\u00e9d\u00e9rale au PIB augmente par rapport \u00e0 son niveau de 41,7 % en 2022-2023 pour s\u2019\u00e9tablir \u00e0 42,4 % en 2023-2024 et 42,5 % en 2024-2025. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait atteindre 39,2 % en 2028\u20112029, mais rester sup\u00e9rieur \u00e0 son niveau d\u2019avant la pand\u00e9mie, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to total revenues) to rise from 7.8 per cent in 2022\u201123 to 10.2 per cent in 2023\u201124. As the effective interest rate on debt edges higher in 2024\u201125, we project the debt service ratio to increase further and average 10.7 per cent through 2028\u201129\u2014well above its pre-pandemic record low of 7.0 per cent in 2018-19.","fr":"Le DPB s\u2019attend \u00e0 ce que le ratio du service de la dette (c\u2019est-\u00e0-dire les frais de la dette publique par rapport aux recettes totales) augmente, passant de 7,8 % en 2022-2023 \u00e0 10,2 % en 2023-2024. \u00c9tant donn\u00e9 que le taux d\u2019int\u00e9r\u00eat effectif sur la dette sera plus \u00e9lev\u00e9 en 2024-2025, nous nous attendons \u00e0 ce que le ratio du service de la dette augmente encore et s\u2019\u00e9tablisse \u00e0 10,7 % en moyenne jusqu\u2019en 2028-2029, bien au-dessus du niveau plancher pr\u00e9pand\u00e9mique de 7,0 % en 2018-2019."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324027S,\n author={Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Robert-Lacroix, Ulysse and Scholz, Tim and Stanton, Jason and Vrhovsek, Zachary},\n title={Economic and Fiscal Outlook \\textemdash March 2024},\n institution={The Office of the Parliamentary Budget Officer},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324027S,\n author={Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Robert-Lacroix, Ulysse and Scholz, Tim and Stanton, Jason and Vrhovsek, Zachary},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res \\textemdash Mars 2024},\n institution={Bureau du directeur parlementaire du budget},\n year=2024,\n \n address = \u0022Ottawa, ON\u0022\n}"}} 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M-87, Corporate Tax Rate Increase and Disclosure of CEO-to-Median-Worker Pay Ratio, introduced by Member of Parliament Jagmeet Singh, proposes to implement an increase in the corporate income tax rate for large corporate entities that have a disparity in their CEO-to-median worker pay ratio.","abstract_fr":"La motion M-87, Augmentation du taux d\u2019imposition des soci\u00e9t\u00e9s et divulgation du ratio entre le salaire du PDG comparativement au salaire m\u00e9dian des employ\u00e9s, d\u00e9pos\u00e9e par le d\u00e9put\u00e9 Jagmeet Singh, propose d\u2019augmenter le taux d\u2019imposition des grandes entreprises ayant des disparit\u00e9s dans le ratio entre le salaire du PDG comparativement au salaire m\u00e9dian des employ\u00e9s.","highlights":[]},"bills":[],"bibtex":{"en":"@techreport{PBO-LEG2324017M,\n author={Creighton, Mark and Dong, Matt},\n title={Revenue of a Corporate Tax Rate Increase Based on CEO-to-Median Worker Pay Ratio},\n institution={The Office of the 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report estimates the total cost of federal and provincial government support for EV battery manufacturing announced to date that will be provided to Northvolt, Volkswagen and Stellantis-LGES. The report also provides estimates of the break-even timelines for the announced production subsidies.","abstract_fr":"Ce rapport fournit une estimation du co\u00fbt total de l\u2019aide f\u00e9d\u00e9rale et provinciale pour la fabrication de batteries de v\u00e9hicules \u00e9lectriques (VE) qui a \u00e9t\u00e9 annonc\u00e9e \u00e0 ce jour pour Northvolt, Volkswagen et Stellantis-LGES. Il comporte \u00e9galement des estimations des seuils de rentabilit\u00e9 des subventions \u00e0 la production annonc\u00e9es.","highlights":[{"content":{"en":"PBO estimates the total cost of government support for EV battery manufacturing by Northvolt, Volkswagen and Stellantis-LGES to be $43.6 billion over 2022-23 to 2032 33\u2014$5.8 billion higher than the announced costs of $37.7 billion.","fr":"Le DPB estime que le co\u00fbt total de l\u2019aide gouvernementale accord\u00e9e \u00e0 Northvolt, \u00e0 Volkswagen et \u00e0 Stellantis-LGES pour la fabrication de batteries de VE s\u2019\u00e9l\u00e8vera \u00e0 43,6 milliards de dollars pour la p\u00e9riode de 2022-2023 \u00e0 2032 2033, ce qui repr\u00e9sente une augmentation de 5,8 milliards de dollars par rapport aux co\u00fbts annonc\u00e9s de 37,7 milliards de dollars."}},{"content":{"en":"The federal government and the government of Quebec recently announced a production subsidy of up to $4.6 billion for Northvolt. The federal government used PBO\u2019s methodology to estimate a break-even timeline of 9 years based on full production in every year.","fr":"Le gouvernement f\u00e9d\u00e9ral et le gouvernement du Qu\u00e9bec ont r\u00e9cemment annonc\u00e9 l\u2019octroi \u00e0 Northvolt d\u2019une subvention \u00e0 la production pouvant atteindre 4,6 milliards de dollars. Le gouvernement f\u00e9d\u00e9ral a utilis\u00e9 la m\u00e9thodologie du DPB pour estimer un seuil de rentabilit\u00e9 de neuf ans en se basant sur une production \u00e0 plein r\u00e9gime chaque ann\u00e9e."}},{"content":{"en":"Based on Northvolt\u2019s projected annual production schedule, PBO estimates a break-even timeline of 11 years for the $4.6 billion production subsidy.","fr":"Selon le calendrier de production annuel projet\u00e9 de Northvolt, le DPB estime \u00e0 11 ans le seuil de rentabilit\u00e9 de la subvention \u00e0 la production de 4,6 milliards de dollars."}},{"content":{"en":"PBO estimates a break-even timeline of 15 years for the $13.2 billion production subsidy announced for Volkswagen, and 23 years for the $15.0 billion in production subsidies for Stellantis-LGES\u2014consistent with our previous estimate (of 20 years) based on their combined production schedules.","fr":"Il estime par ailleurs que le seuil de rentabilit\u00e9 de la subvention \u00e0 la production de 13,2 milliards de dollars annonc\u00e9e pour Volkswagen serait atteint en 15 ans, et en 23 ans pour la subvention \u00e0 la production de 15 milliards accord\u00e9e pour Stellantis-LGES. Ces chiffres sont coh\u00e9rents avec notre estimation pr\u00e9c\u00e9dente (de 20 ans) qui \u00e9tait bas\u00e9e sur les calendriers de production combin\u00e9s de ces entreprises."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324020S,\n author={Giswold, Jill and Dong, Matt},\n title={Costing Support for EV Battery Manufacturing},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324020S,\n author={Giswold, Jill and Dong, Matt},\n title={\\\u0027{E}tablissement des couts pour le soutien accord\\\u0027{e} \\`{a} la fabrication de batteries de VE},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"LEG-2324-011-M","is_published":"2023-10-26T12:57:09.000000Z","release_date":"2023-10-26T13:00:00.000000Z","updated_at":"2023-10-26T12:57:09.000000Z","type":"LEG","internal_id":"LEG-2324-011-M","title_en":"Applying the 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M-92, Climate Crisis and Affordability, introduced by Member of Parliament Mike Morrice, proposes to immediately extend the Canada Recovery Dividend to include fossil fuel companies operating in Canada.","abstract_fr":"La motion M-92, Crise climatique et vie abordable, d\u00e9pos\u00e9e par le d\u00e9put\u00e9 Mike Morrice, propose que soit appliqu\u00e9 imm\u00e9diatement le dividende pour la relance au Canada aux profits des entreprises de combustibles fossiles exploitant au pays.","highlights":[]},"bills":[],"bibtex":{"en":"@techreport{PBO-LEG2324011M,\n author={Dong, Matt},\n title={Applying the Canada Recovery Dividend to Fossil Fuel Companies},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2324011M,\n author={Dong, Matt},\n title={Application du dividende pour la relance au Canada aux entreprises du secteur des combustibles fossiles},\n institution={Bureau du directeur parlementaire 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report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Le pr\u00e9sent rapport fournit une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Following the contraction in real GDP in the second quarter, PBO projects the Canadian economy to stagnate in the second half of 2023. As the Bank of Canada maintains its restrictive monetary policy to restore price stability, we project that consumer spending will remain weak in the second half of this year and the first half of 2024.","fr":"Apr\u00e8s la contraction du produit int\u00e9rieur brut (PIB) r\u00e9el au deuxi\u00e8me trimestre, le DPB pr\u00e9voit que l\u2019\u00e9conomie canadienne stagnera au cours du deuxi\u00e8me semestre de l\u2019ann\u00e9e 2023. Alors que la Banque du Canada maintient sa politique mon\u00e9taire restrictive afin de r\u00e9tablir la stabilit\u00e9 des prix, nous pr\u00e9voyons que les d\u00e9penses de consommation demeureront faibles au cours du deuxi\u00e8me semestre de cette ann\u00e9e et de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e 2024."}},{"content":{"en":"PBO expects the Bank of Canada to hold the policy interest rate at 5 per cent through the first quarter of 2024. With CPI inflation on track to return to its 2 per cent target, we then expect the Bank to start lowering its policy rate in April 2024.","fr":"Le DPB s\u2019attend \u00e0 ce que la Banque du Canada maintienne le taux directeur \u00e0 5 % jusqu\u2019au premier trimestre de 2024. L\u2019inflation de l\u2019IPC \u00e9tant en bonne voie de revenir \u00e0 sa cible de 2 %, nous pr\u00e9voyons que la Banque commencera \u00e0 abaisser son taux directeur en avril 2024."}},{"content":{"en":"For the current fiscal year, 2023-24, PBO projects the budgetary deficit to rise to $46.5 billion (1.6 per cent of GDP). Assuming no new measures are introduced, and existing temporary measures sunset as scheduled, the budgetary deficit is projected to resume its downward trajectory, falling to $8.2 billion (0.2 per cent of GDP) in 2028-29.","fr":"Pour l\u2019exercice financier en cours, soit 2023-2024, le DPB pr\u00e9voit que le d\u00e9ficit budg\u00e9taire atteindra 46,5 milliards de dollars (1,6 % du PIB). En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit budg\u00e9taire devrait revenir sur sa trajectoire descendante et passer \u00e0 8,2 milliards de dollars (0,2 % du PIB) en 2028-2029."}},{"content":{"en":"PBO projects the federal debt-to-GDP ratio to rise to 42.6 per cent in 2023 24. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 37.8 per cent in 2028-29 but remain above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Le DPB pr\u00e9voit une augmentation du ratio de la dette f\u00e9d\u00e9rale au PIB de 42,6 % en 2023-2024. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait atteindre 37,8 % en 2028 2029, mais rester sup\u00e9rieur \u00e0 son niveau d\u2019avant la pand\u00e9mie, qui \u00e9tait de 31,2 % du PIB en 2019 2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to tax revenues) under status quo policy will peak at 12.0 per cent in 2023-24 and then decline gradually to 11.0 per cent in 2028-29\u2014well above its pre-pandemic low of 8.3 per cent in 2018-19.","fr":"Le DPB projette que le ratio du service de la dette (c\u2019est-\u00e0-dire les charges de la dette publique par rapport aux recettes fiscales), selon une politique de statu quo, culminera \u00e0 12,0 % en 2023 2024, puis diminuera progressivement pour s\u2019\u00e9tablir \u00e0 11,0 % en 2028 2029, soit bien au-dessus de son niveau le plus bas enregistr\u00e9 avant la pand\u00e9mie, \u00e0 savoir 8,3 % en 2018 2019."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324017S,\n author={Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook - October 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324017S,\n author={Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Nahornick, Nora and Stanton, Jason and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - octobre 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2324-012-S","is_published":"2023-09-07T12:57:11.000000Z","release_date":"2023-09-07T13:00:00.000000Z","updated_at":"2023-09-07T12:57:11.000000Z","type":"RP","internal_id":"RP-2324-012-S","title_en":"Changes to the Alternative Minimum Tax as Proposed in Budget 2023","title_fr":"Modifications \u00e0 l\u2019imp\u00f4t minimum de remplacement propos\u00e9es dans le budget de 2023","slug":"RP-2324-012-S--changes-alternative-minimum-tax-as-proposed-in-budget-2023--modifications-impot-minimum-remplacement-proposees-dans-budget-2023","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-012-S--changes-alternative-minimum-tax-as-proposed-in-budget-2023--modifications-impot-minimum-remplacement-proposees-dans-budget-2023","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2324-012-S--changes-alternative-minimum-tax-as-proposed-in-budget-2023--modifications-impot-minimum-remplacement-proposees-dans-budget-2023"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-012-S--changes-alternative-minimum-tax-as-proposed-in-budget-2023--modifications-impot-minimum-remplacement-proposees-dans-budget-2023","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2324-012-S--changes-alternative-minimum-tax-as-proposed-in-budget-2023--modifications-impot-minimum-remplacement-proposees-dans-budget-2023"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/82b3b4faf430fa27e95fd3027ba2eb5ba12f530bb56327b54d5798323d69228b"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/4c4538c4bb3b052b6c3f64fe0929886536433d54ec605e80ad9ed1f61f1b8ce1"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/222fbfd1b035d3016fcbf060008e275641f1322795649d640523e90c44a13e20","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/cc9cc3d9c80002ca6d4be6afe33f9e4001a06c9001282ea863f48f27c2740659","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e1fe61702916a2409e988be064c9029c83c09b3c854648a4851a5db0eb040301","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c3ad7c84353e4dea042c11f02264b266c296b20e8f4e9a146cdbd19499bc9a28","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/20f84a8c07c5d25ccc6aa0998e77212ddec80cbf716a540d37bc263cc6a14fb8","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c61db7cc3e4d66de7cca8c57030f49c7ea8e4a40b0c2532736947375c4d681d5","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7862083f3aa966c89be8c67fc1c305d8f2989add8719c3015b5428e27d845d1a","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/94a038227197930e3af55315bd250209793260013c2a4f9e8569d2218390b20e"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4491a46b1a173594c463fabad63be2bc81b0d8204e50906371dbf1dd4c9a9aee","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e615d10be5f5cbb0a74cdc6367027420f502a5de95685155915d48f69b177b7b","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d1b7f336351071ef76341a1fbe28ca49ed9eeb49651ae78855fcfde86ce3161a","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/91e1f212e585e5890e741abd424386db2c2cb086b5751d76bb2e9205818bfb2a","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/16eb508a80a3f7c513277f3151daa60f338b8fd4a751a9b6f9d69016c2daa7c2","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f76b91fca4de2c37d007f794017be5598242d6a9632c5e510c88e7197a805853","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/2213879df96835a812f26f2252f714e639d554bbecefdfc37f53a4d2f6174345","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e4d9af34c1b6f52d463de6a767a8fad3aac1a9a98ea646d9217a614548471959"}}},"metadata":{"abstract_en":"This report estimates the impact of changes to the Alternative Minimum Tax (AMT) proposed in Budget 2023. \n\nSome high-earning individuals and trusts have enough tax credits, deductions and other tax incentives that their income tax as a percentage of their income is lower than that of other taxpayers. The AMT aims to ensure that higher-income taxpayers pay at least a base rate of tax. Budget 2023 proposed changes to the AMT that would make the highest-income earners pay a greater proportion of the total AMT revenue.","abstract_fr":"Ce rapport \u00e9value l\u2019impact des modifications \u00e0 l\u2019imp\u00f4t minimum de remplacement (IMR) propos\u00e9es dans le budget 2023. \n\nCertains particuliers et certaines fiducies ayant un revenu \u00e9lev\u00e9 ont suffisamment de cr\u00e9dits d\u2019imp\u00f4t, de d\u00e9ductions et d\u2019autres incitatifs fiscaux pour faire en sorte que leur imp\u00f4t sur le revenu soit peu \u00e9lev\u00e9, en pourcentage de leurs revenus, comparativement \u00e0 d\u2019autres contribuables. L\u2019IMR existe afin de faire en sorte que les contribuables paient au moins un montant minimal d\u2019imp\u00f4t de base. Le budget de 2023 proposait des modifications \u00e0 l\u2019IMR visant \u00e0 ce que les contribuables ayant les revenus les plus \u00e9lev\u00e9s paient une proportion plus importante des revenus totaux d\u00e9coulant de l\u2019IMR.","highlights":[{"content":{"en":"Budget 2023 proposed changes to the Alternative Minimum Tax (AMT).","fr":"Dans son budget de 2023, le gouvernement f\u00e9d\u00e9ral a propos\u00e9 des modifications \u00e0 l\u2019imp\u00f4t minimum de remplacement (IMR)."}},{"content":{"en":"The AMT is an alternative tax calculation meant to ensure that high-income individuals and trusts do not pay a disproportionately small amount of tax relative to their income compared with other taxpayers.","fr":"L\u2019IMR est une m\u00e9thode de remplacement pour calculer l\u2019imp\u00f4t \u00e0 payer qui vise \u00e0 assurer que les particuliers et les fiducies ayant des revenus \u00e9lev\u00e9s ne paient pas un montant d\u2019imp\u00f4t d\u00e9mesur\u00e9ment petit par rapport \u00e0 leurs revenus comparativement \u00e0 celui que paient les autres contribuables."}},{"content":{"en":"The estimated net revenue from these changes is $2.6 billion over five years.","fr":"Les revenus nets d\u00e9coulant de ces modifications sont estim\u00e9s \u00e0 2,6 milliards de dollars sur 5 ans."}},{"content":{"en":"The changes are expected to shift the tax burden to higher-income individuals. However, the same shift is not expected for trusts.","fr":"Les modifications devraient faire en sorte que le fardeau fiscal repose sur les \u00e9paules des particuliers ayant des revenus \u00e9lev\u00e9s. Toutefois, on ne s\u2019attend pas \u00e0 ce que ce soit aussi le cas pour les fiducies."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2324012S,\n author={Michalyshyn, Katarina and Dong, Matt},\n title={Changes to the Alternative Minimum Tax as Proposed in Budget 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2324012S,\n author={Michalyshyn, Katarina and Dong, Matt},\n title={Modifications \\`{a} l\u2019imp\\^{o}t minimum de remplacement propos\\\u0027{e}es dans le budget de 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"LEG-2324-001-M","is_published":"2023-04-05T12:57:05.000000Z","release_date":"2023-04-05T13:00:00.000000Z","updated_at":"2023-04-05T12:57:05.000000Z","type":"LEG","internal_id":"LEG-2324-001-M","title_en":"EI Attachment Benefit for Adoptive and Intended Parents","title_fr":"Prestation d\u0027attachement de l\u0027assurance emploi destin\u00e9e aux parents adoptifs et aux parents d\u0027intention","slug":"LEG-2324-001-M--ei-attachment-benefit-adoptive-intended-parents--prestation-attachement-assurance-emploi-destinee-parents-adoptifs-parents-intention","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2324-001-M--ei-attachment-benefit-adoptive-intended-parents--prestation-attachement-assurance-emploi-destinee-parents-adoptifs-parents-intention","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2324-001-M--ei-attachment-benefit-adoptive-intended-parents--prestation-attachement-assurance-emploi-destinee-parents-adoptifs-parents-intention"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2324-001-M--ei-attachment-benefit-adoptive-intended-parents--prestation-attachement-assurance-emploi-destinee-parents-adoptifs-parents-intention","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2324-001-M--ei-attachment-benefit-adoptive-intended-parents--prestation-attachement-assurance-emploi-destinee-parents-adoptifs-parents-intention"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/d2b6f9ecd55d5a63615d5ab69e989aa9db2efe89bded663caab89fdc49a676e1"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/7a6d222daeb79324f6465ecf4c9e72bb820d020c516653dd36cd2598f1b91b97"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/47ffbb3124eafd897d80447e76121f9b4527a1b367b75ba6123ed427b28ae993","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/516f892909a7a3b6f7892d0674ce9fe5e353ca4676fcab05d000d3105473a8cf","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/30ef9587a69bc88c61586cbb2868c4b1d4449fbafd7fb7a5e2a4c248c8f8f2b5","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/9de5136bd2ba6a9a1a9cc212b3665cea3ea591bc8a0cf9eaf1a4ea743c031ef9","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/58ede8e554fe12e6a87d78baefd87e6e297339685635055328bbc5de595990de","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0cf712cb83927f6fd46279ba223cc79b43fd8bff6809d2490ac37bc90d21875f","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/5117992332bcec5d435d2633ac44c881cb550947a7caa911a8808dfde729da33","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/44108f7c7b65517b254a57bcbe8223e9fba098a98a4aab41cfd0e1dd5ef16cef"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/96a455dd9107916502d22e7330a3b39687454d30559e606d90db33d93cc674e5","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/276e55074dceb583ca1a9136e3af8c97dbb3560bf8a32f3f26dfb367248bce3e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/56f4cf828c871d17318ea4ca652ae58637954022bb2a0ce02bc4220bf4c4d84b","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/918d0caaaa88948d27fcb769adeeff0dd918ae4a1a0df77a01e37c65bd2e02d4","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6faf9b174ca70936b6e064f50acf6c1162041c6ae3f932b5f093ff7a093e6ea1","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/74ecd5cd18e41b8df63ed9981c61885d28dbabf69c0865cffd42b98a60a84275","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/96f1692f43c81a83b761335305b448b17be8968886544f9b7cc1232958fcae52","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c15efff0a34b2845b80e7310d4005430938f3f04eef33189c7acdf844a7188c7"}}},"metadata":{"abstract_en":"Bill C-318 proposes to introduce an EI attachment benefit for parents who adopt a child under the age of 18, as well as for intended parents of a child born through surrogacy. Beneficiaries would receive 55 per cent of their average insurable weekly earnings for 15 weeks, up to a maximum amount determined by the maximum yearly insurable earnings in that year. For 2023, the maximum weekly benefit amount is $650. For each child, the 15 weeks of benefits could be divided between two parents.\n\nPBO estimates the proposed new EI attachment benefit for adoptive and intended parents (parents of children born through surrogacy) will cost $88 million over 2023-24 to 2027-28.","abstract_fr":"Le projet de loi C-318 propose la mise en place d\u2019une prestation d\u2019attachement de l\u2019assurance emploi destin\u00e9e aux parents qui adoptent un enfant de moins de 18 ans et aux parents d\u2019enfants con\u00e7us par une m\u00e8re porteuse. Les b\u00e9n\u00e9ficiaires recevraient une prestation \u00e9quivalant \u00e0 55 % de leur r\u00e9mun\u00e9ration hebdomadaire moyenne assurable pendant 15 semaines, jusqu\u2019\u00e0 concurrence d\u2019un montant d\u00e9termin\u00e9 selon le maximum de la r\u00e9mun\u00e9ration annuelle assurable gagn\u00e9 dans l\u2019ann\u00e9e vis\u00e9e. Le montant maximal de la prestation hebdomadaire pour 2023 est \u00e9tabli \u00e0 650 $. Pour chaque enfant, les 15 semaines de prestations pourraient \u00eatre divis\u00e9es entre les deux parents.\n\nLe DPB estime que la nouvelle prestation d\u2019attachement de l\u2019assurance emploi propos\u00e9e pour les parents adoptifs et les parents d\u2019intention (parents d\u2019enfants con\u00e7us par une m\u00e8re porteuse) co\u00fbtera 88 millions de dollars de 2023-2024 \u00e0 2027-2028.","highlights":[]},"bills":[{"id":427,"created_at":"2023-03-09T06:00:11-05:00","updated_at":"2023-04-05T08:57:13-04:00","legisid":"44_1_C-318","parliament":44,"session":1,"prefix":"C","number":318,"title_en":"An Act to amend the Employment Insurance Act and the Canada Labour Code (adoptive and intended parents)","title_fr":"Loi modifiant la Loi sur l\u2019assurance-emploi et le Code canadien du travail (parents adoptifs et parents d\u2019intention)","bill_num":"C-318","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/44-1\/C-318","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/44-1\/c-318"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/44-1\/C-318","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/44-1\/c-318"}},"pivot":{"publication_id":737,"bill_id":427}}],"bibtex":{"en":"@techreport{PBO-LEG2324001M,\n author={Dong, Matt},\n title={EI Attachment Benefit for Adoptive and Intended Parents},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2324001M,\n author={Dong, Matt},\n title={Prestation d\u0027attachement de l\u0027assurance emploi destin\\\u0027{e}e aux parents adoptifs et aux parents d\u0027intention},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"RP-2223-025-S","is_published":"2023-03-02T13:57:04.000000Z","release_date":"2023-03-02T14:00:00.000000Z","updated_at":"2023-03-02T13:57:04.000000Z","type":"RP","internal_id":"RP-2223-025-S","title_en":"Economic and Fiscal Outlook \u2014 March 2023","title_fr":"Perspectives \u00e9conomiques et financi\u00e8res \u2014 Mars 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report provides a baseline projection to help parliamentarians gauge potential economic and fiscal outcomes under current policy settings.","abstract_fr":"Ce rapport pr\u00e9sente une projection de r\u00e9f\u00e9rence pour aider les parlementaires \u00e0 \u00e9valuer les r\u00e9sultats \u00e9conomiques et financiers possibles dans le cadre des politiques actuelles.","highlights":[{"content":{"en":"Following a stronger-than-expected performance in the second half of 2022, PBO projects the Canadian economy to stagnate through 2023. As the tightening of monetary policy takes hold, we expect a further decline in residential investment and weakness in consumer spending in the first half of this year.","fr":"Apr\u00e8s que l\u2019\u00e9conomie canadienne ait affich\u00e9 une performance plus \u00e9lev\u00e9e que pr\u00e9vu lors du deuxi\u00e8me semestre de 2022, le directeur parlementaire du budget (DPB) s\u2019attend \u00e0 ce qu\u2019elle stagne jusqu\u2019en 2023. \u00c0 mesure que le resserrement de la politique mon\u00e9taire se concr\u00e9tise, nous pr\u00e9voyons de nouvelle baisse de l\u2019investissement r\u00e9sidentiel et une faiblesse des d\u00e9penses de consommation au cours de la premi\u00e8re moiti\u00e9 de l\u2019ann\u00e9e."}},{"content":{"en":"PBO expects the Bank of Canada to maintain its \u201cpause\u201d, holding the policy interest rate at 4.5 per cent, through December of this year. With CPI inflation solidly on track to return to its 2 per cent target, we then expect the Bank to start lowering its policy rate in January 2024, returning the rate to its estimated neutral level of 2.5 per cent in December 2024.","fr":"Le DPB s\u2019attend \u00e0 ce que la Banque du Canada observe sa \u00ab\u2009pause\u2009\u00bb, en maintenant le taux directeur \u00e0 4,5 % jusqu\u2019\u00e0 la fin du mois de d\u00e9cembre de cette ann\u00e9e. Puisque l\u2019inflation de l\u2019indice des prix \u00e0 la consommation (IPC) est en voie de revenir \u00e0 sa cible de 2 %, nous pr\u00e9voyons que la Banque commencera \u00e0 r\u00e9duire son taux directeur en janvier 2024, puis le ram\u00e8nera \u00e0 son niveau neutre estim\u00e9 de 2,5 % en d\u00e9cembre 2024."}},{"content":{"en":"For the current fiscal year, 2022-23, PBO projects the budgetary deficit to be $36.5 billion (1.3 per cent of GDP) under status quo policy. Assuming no new measures and existing temporary measures sunset as scheduled, the deficit is projected to increase to $43.1 billion (1.5 per cent of GDP) in 2023-24 before resuming its downward trajectory, falling to $8.7 billion (0.3 per cent of GDP) in 2027-28.","fr":"Pour l\u2019exercice en cours de 2022-2023, le DPB pr\u00e9voit un d\u00e9ficit budg\u00e9taire de 36,5 milliards de dollars (1,3 % du PIB) selon une politique de statu quo. En supposant qu\u2019il n\u2019y ait pas de nouvelles mesures et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le d\u00e9ficit devrait augmenter \u00e0 43,1 milliards de dollars (1,5 % du PIB) en 2023-2024 avant de reprendre sa trajectoire descendante, chutant \u00e0 8,7 milliards de dollars (0,3 % du PIB) en 2027-2028."}},{"content":{"en":"Under status quo policy, PBO projects the federal debt-to-GDP ratio to decline to 41.8 per cent in 2022-23 and then to temporarily rise to 42.2 per cent in 2023-24. Assuming no new measures and existing temporary measures sunset as scheduled, the federal debt ratio is projected to fall to 38.1 per cent in 2027-28 but remain above its pre-pandemic level of 31.2 per cent of GDP in 2019-20.","fr":"Selon une politique de statu quo, le DPB pr\u00e9voit que le ratio de la dette f\u00e9d\u00e9rale au PIB diminuera \u00e0 41,8 % en 2022-2023, puis qu\u2019il remontera temporairement \u00e0 42,2 % en 2023-2024. En supposant qu\u2019aucune nouvelle mesure ne soit prise et que les mesures temporaires existantes prennent fin comme pr\u00e9vu, le ratio de la dette f\u00e9d\u00e9rale devrait diminuer \u00e0 38,1 % en 2027-2028. Cependant, il devrait rester sup\u00e9rieur \u00e0 son niveau pr\u00e9-pand\u00e9mique, qui \u00e9tait de 31,2 % du PIB en 2019-2020."}},{"content":{"en":"PBO projects the debt service ratio (that is, public debt charges relative to tax revenues) under status quo policy will peak at 11.5 per cent in 2023-24 and then decline gradually to 10.3 per cent in 2027-28\u2014two percentage points above its pre-pandemic low of 8.3 per cent in 2018 19.","fr":"Le DPB projette que le ratio du service de la dette (c\u2019est-\u00e0-dire les charges de la dette publique par rapport aux recettes fiscales) culminera \u00e0 11,5 % en 2023-2024 selon une politique de statu quo. Ensuite, il diminuera progressivement pour s\u2019\u00e9tablir \u00e0 10,3 % en 2027-2028, soit deux points de pourcentage de plus que le niveau le plus bas enregistr\u00e9 avant la pand\u00e9mie, \u00e0 savoir 8,3 % en 2018 2019."}}]},"bills":[],"bibtex":{"en":"@techreport{PBO-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Economic and Fiscal Outlook \\textemdash March 2023},\n institution={The Office of the Parliamentary Budget Officer},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2223025S,\n author={Nahornick, Nora and Nicol, Caroline and Stanton, Jason and Ammar, Nasreddine and Barkova, Lisa and Behrend, Robert and Cl\\\u0027{e}ophat, R\\\u0027{e}gine and Creighton, Mark and Dong, Matt and Kpekou Tossou, Rolande and Laurin, Marianne and Michalyshyn, Katarina and Vanderwees, Kaitlyn},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res \\textemdash Mars 2023},\n institution={Bureau du directeur parlementaire du budget},\n year=2023,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"LEG-2223-020-S","is_published":"2022-11-28T13:57:05.000000Z","release_date":"2022-11-28T14:00:00.000000Z","updated_at":"2023-02-07T19:18:04.000000Z","type":"LEG","internal_id":"LEG-2223-020-S","title_en":"Residential Property Flipping Rule","title_fr":"R\u00e8gle sur les reventes pr\u00e9cipit\u00e9es de biens immobiliers r\u00e9sidentiels","slug":"LEG-2223-020-S--residential-property-flipping-rule--regle-reventes-precipitees-biens-immobiliers-residentiels","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2223-020-S--residential-property-flipping-rule--regle-reventes-precipitees-biens-immobiliers-residentiels","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/LEG-2223-020-S--residential-property-flipping-rule--regle-reventes-precipitees-biens-immobiliers-residentiels"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2223-020-S--residential-property-flipping-rule--regle-reventes-precipitees-biens-immobiliers-residentiels","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/LEG-2223-020-S--residential-property-flipping-rule--regle-reventes-precipitees-biens-immobiliers-residentiels"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/3e3f2936779d861689a6dc27b53055f24d1d753f85d9bba3b9bb2a087a246a54"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/9ae3212dbd1aa4bced02dd65f021e84190542f70bb92715aeb426ddc710c32dc"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0c40acf7d8d1bb205644955278908875393ef6b48c831e23f6db938e594c87a7","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3c7db28b8c743d1f41aba7f026015a7ed2e58f269a694032d90b40c80c0bfedb","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/efcd828d9b3f0f7fa83d2d65b05beab899aa796071c526418e38b85054a7c6e8","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/6529ce04eacdf9cfeeb01acd3d34de86cf9374bf4aa259120cca24b7c5ecb69a","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8897ec99c1f2dc62d2a9a28191242b60d69ff1757efc011da065228a1b0f3713","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/3b2e07e9c65a90a9df9f09766ebb7172da8adb723a3424e3c7f8b8eb80fdb46d","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ad164da8c70cad681822139b22d294c306c058e2812bec1a2c587c8ab1618f29","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/76db5cdf943c42fd320615f4d24ca2c2dd5d15993f01981f2d6e9e4a08e74880"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bbdfad793784b58f8f9c0074f8cadab01972acd431ce9829073f8ad9c14edd59","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/f4209c6fb75e418cad302e43f2d2b90bde4dc64cbee982ad27b2b4efb74c7800","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/88222222ce06af986aeb414c212f1b95b73ad36b1e177e296810c26d3d01296e","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/d84c91d9e52609a3f84ffbb547120d5026fecd49367532c471541abb1f78463e","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/4f5fb8821f965fb2b47ebbd101d92ad9b34e9769f10fc85eb76f973f3029a2a3","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8de67784fc325425f0167aabf1abcaa5631d708e944f4b8c3219c6ba31449eb5","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/1ad7eed485ca3f91d63653ea7a554d2b704eb7e6836da589cf964bbdc8a2e803","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/823a448e3e2c0c47cc4f1facdfd5cb92ba298c950232dc0454ac1ed3fec25a5c"}}},"metadata":{"abstract_en":"Bill C-32 introduced the Residential Property Flipping Rule, which will be applied to residential properties sold on or after January 1, 2023. Under this new rule, the gains from reselling a residential property within 12 months of purchase will be fully taxable as ordinary income, as opposed to being exempted under the Principal Residence Exemption (for primary residences) or taxed as capital gains (for secondary residences) without this rule. The rule will not apply if the disposition results in a loss or if it is already considered as ordinary income. Exemptions to this rule will include circumstances such as deaths, household additions, separations (marriage or common-law), threats to personal safety, serious illness or disability, relocation due to employment, involuntary job termination, insolvency, or destruction\/expropriation of the property.\n\nThe PBO estimates that the new Residential Property Flipping Rule introduced in Budget 2022 is expected to raise $66 million in revenue over the next five fiscal years.","abstract_fr":"La r\u00e8gle sur les reventes pr\u00e9cipit\u00e9es de biens immobiliers r\u00e9sidentiels, pr\u00e9sent\u00e9e dans le projet de loi C-32, s\u2019appliquera aux biens immobiliers r\u00e9sidentiels vendus \u00e0 partir du 1er janvier 2023. Aux termes de cette nouvelle r\u00e8gle, le gain r\u00e9alis\u00e9 sur la revente d\u2019un immeuble r\u00e9sidentiel dans les 12 mois suivant son achat sera enti\u00e8rement imposable \u00e0 titre de revenu ordinaire, plut\u00f4t que d\u2019\u00eatre exon\u00e9r\u00e9 d\u2019imp\u00f4t au titre de l\u2019exemption pour r\u00e9sidence principale ou d\u2019\u00eatre impos\u00e9 \u00e0 titre de gain en capital (dans le cas des r\u00e9sidences secondaires), comme cela est le cas sans cette r\u00e8gle. La r\u00e8gle ne n\u2019appliquera pas si la vente donne lieu \u00e0 une perte ou si le gain qui en d\u00e9coule est d\u00e9j\u00e0 consid\u00e9r\u00e9 comme un revenu ordinaire. Des exemptions s\u2019appliqueront \u00e0 cette r\u00e8gle, notamment en cas de d\u00e9c\u00e8s, d\u2019\u00e9largissement du m\u00e9nage, de s\u00e9paration (mariage ou union de fait), de menaces \u00e0 la s\u00e9curit\u00e9 personnelle, de maladie grave ou d\u2019invalidit\u00e9, de d\u00e9m\u00e9nagement pour des raisons professionnelles, de cessation d\u2019emploi involontaire, d\u2019insolvabilit\u00e9, ou de destruction de l\u2019immeuble\/expropriation.\n\nLe DPB estime que la nouvelle r\u00e8gle sur les reventes pr\u00e9cipit\u00e9es de biens immobiliers r\u00e9sidentiels, annonc\u00e9e dans le budget de 2022, devrait g\u00e9n\u00e9rer des recettes de 66 millions de dollars sur les cinq prochains exercices.","highlights":[]},"bills":[{"id":403,"created_at":"2022-11-04T14:00:12-04:00","updated_at":"2023-02-07T16:19:20-05:00","legisid":"44_1_C-32","parliament":44,"session":1,"prefix":"C","number":32,"title_en":"An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022","title_fr":"Loi portant ex\u00e9cution de certaines dispositions de l\u0027\u00e9nonc\u00e9 \u00e9conomique de l\u0027automne d\u00e9pos\u00e9 au Parlement le 3 novembre 2022 et de certaines dispositions du budget d\u00e9pos\u00e9 au Parlement le 7 avril 2022","bill_num":"C-32","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/bills--projets-de-loi\/44-1\/C-32","legisinfo":"https:\/\/www.parl.ca\/legisinfo\/en\/bill\/44-1\/c-32"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/bills--projets-de-loi\/44-1\/C-32","legisinfo":"https:\/\/www.parl.ca\/LegisInfo\/fr\/projet-de-loi\/44-1\/c-32"}},"pivot":{"publication_id":720,"bill_id":403}}],"bibtex":{"en":"@techreport{PBO-LEG2223020S,\n author={Dong, Matt and Perrault, Louis},\n title={Residential Property Flipping Rule},\n institution={The Office of the Parliamentary Budget Officer},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-LEG2223020S,\n author={Dong, Matt and Perrault, Louis},\n title={R\\`{e}gle sur les reventes pr\\\u0027{e}cipit\\\u0027{e}es de biens immobiliers r\\\u0027{e}sidentiels},\n institution={Bureau du directeur parlementaire du budget},\n year=2022,\n \n address = \u0022Ottawa, ON\u0022\n}"}}