Federal Budget 2024: How it will affect Canadians' finances and taxes.

The 2024 federal budget in Canada introduces several changes that will impact Canadians' finances and taxes. Higher income earners will face tax changes, while renters and first-time home buyers will receive incentives. One notable change is the increase in the capital gains inclusion rate for corporations and trusts. The budget also includes measures to support small businesses, such as the Canada Carbon Rebate and the expansion of the Clean Energy Investment Tax Credit. Additionally, there are provisions for renters, including the use of rent payment history for credit assessments and the establishment of a Tenant Protection Fund. The budget also addresses mortgage amortization, the Home Buyers' Plan, and qualified investments for registered plans. Other areas covered in the budget include the National Pharmacare Plan, support for disabled Canadians, and changes to the CPP Death Benefit. Overall, the budget aims to provide fairness for every generation of Canadians, with a focus on housing and health. [Extracted from the article]