When the 2025 federal budget was released, many described it as quiet, but as Baker Tilly’s Rosa Maria Iuliano explains, there’s still plenty happening behind the scenes.
In this episode, hosts Frankie and Sarah sit down with Rosa, a seasoned tax partner who has been analyzing federal budgets for more than two decades. Together, they unpack what’s in the latest budget, what’s been delayed, and what’s quietly disappeared, including the proposed capital gains inclusion rate increase, bare trust filing requirements, and the long-awaited elimination of UHT.
The discussion also explores new tax credits for personal support workers, CRA’s renewed focus on personal services businesses, and what professionals and business owners should know about tiered corporations, refunds, and passive investment income.
It’s an insightful, down-to-earth look at what the 2025 budget really means for Canadians, and why sometimes, “quiet” can be a good thing in tax.
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