2022 Federal Budget Highlights

Here is a great article (and a quick read) from the Globe and Mail summarizing the key points of our 2022 Federal Budget.

Key elements include:

  • 5.5 billion to build new homes
  • Multi-generational Home Renovation Tax Credit
  • Tax-Free First Home Savings Account
  • Doubling the First-Time Home Buyers' Tax Credit
  • First-Time Home Buyer Incentive extended until early 2025
  • No principal residence exemption for properties bought and sold within 12 months
  • A two-year ban on foreign buyers
  • Sales taxes on assignment sales
  • Doubling the home accessibility tax credit
  • Dental care
  • Tax breaks for surrogate-related expenses and fertility clinic fees
  • A new bank ombudsman

   2022 Federal Budget Details

 

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