KPMG LLP

KPMG LLP

March 22, 2011 17:34 ET

KPMG Offers Insight into the Impact of the 2011 Federal Budget on Canadian Businesses

KPMG's Federal Budget Analysis Brings Clarity and Insight to Budget Announcements

TORONTO, ONTARIO--(Marketwire - March 22, 2011) - KPMG's Tax practice provides insight and analysis on the impact of the 2011 Federal Budget released earlier today by the Honourable Jim Flaherty, Minister of Finance. Leaders from KPMG's Tax practice were in the budget lock-up in Ottawa and have just issued a budget tax brief to help Canadian businesses better understand the budget announcements.

"We are pleased to see that the government is continuing on its journey to reduce corporate tax rates to 15% by 2012," said Greg Wiebe, Canadian Managing Partner with KPMG's National Tax practice. "I strongly believe that staying the course on corporate tax reductions is essential given the current economic climate and for Canada to be competitive on the world stage."

Highlights of the key measures announced in today's budget include:

  • Limiting corporate partnership tax deferral
  • Accelerated CCA for manufacturing and processing equipment and clean energy generation equipment
  • Measures on individual pension plans

KPMG's tax leaders are hosting numerous initiatives to help Canadian businesses understand how the budget impacts them, including a post-budget webcast to begin today at 5:00pm (Eastern), and post-budget seminars across the country to provide highlights and analysis on the implications of the 2011 Federal Budget.

Further information, analysis and resources on the 2011 Federal Budget, including what the budget means for particular industries, can be found on KPMG's budget website at www.kpmg.ca/budgets.

About KPMG's Tax Practice

KPMG's tax professionals can provide tax advice that goes beyond simple compliance. We strive to understand the long-term impact of tax decisions, keep on top of local and global trends in tax regulation and administration, and bring clients progressive tax planning ideas. For more information, please visit www.kpmg.ca/tax.

About KPMG

KPMG LLP, the audit, tax, and advisory firm, a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have over 140,000 professionals, including more than 7,900 partners, in 146 countries. For more information, please visit www.kpmg.ca.

Contact Information

  • Media contact:
    KPMG LLP
    Julie Bannerjea
    Head of Media Relations
    416-777-3243
    jbannerjea@kpmg.ca

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