ARTICLE
1 October 2020

Tax Content In The Speech From The Throne, Sept. 2020

MP
Moodys Private Client Law LLP

Contributor

Moodys Private Client Law is part of Moodys Private Client and home to a team of Canadian and US lawyers dedicated to simplifying the journey ahead for individuals and businesses. We take pride in seeing every detail, anticipating every obstacle and relying on our global, multidisciplinary expertise to chart the best path forward for your individual situation and ensure success. Focused on the areas of business law, immigration, trust and estate law, and tax law, our goal is to ensure you and your business are covered from every angle.
On September 23, 2020, the Governor General of Canada opened the second session of the 43rd parliament of Canada with the speech from the throne.
Canada Tax

On September 23, 2020, the Governor General of Canada opened the second session of the 43rd parliament of Canada with the speech from the throne. Overly simplified, the speech contained no detail, was overtly political (what else would you expect?) and gave strong signals about where the government is headed. For those not familiar with the purpose and process of the throne speech, a very short explanation provided by the Parliament of Canada can be found here.

Given the fact that the government currently only holds a minority, will Canadians be going to the polls soon? Well, I guess time will tell but given the NDP's recent announcement that it would be supporting the speech, it looks like an election in the immediate short-term has been averted.

While the speech was light on detail, it did contain some references to possible tax changes. Accordingly, my colleague Kenneth Keung and myself recorded a new episode of the podcast where we discuss some of the tax references and what such possible changes might look like in this "crystal balling" episode.

Happy listening!

Moodys Tax Law is only about tax. It is not an add-on service, it is our singular focus. Our Canadian and US lawyers and Chartered Accountants work together to develop effective tax strategies that get results, for individuals and corporate clients with interests in Canada, the US or both. Our strengths lie in Canadian and US cross-border tax advisory services, estateplanning, and tax litigation/dispute resolution. We identify areas of risk and opportunity, and create plans that yield the right balance of protection, optimization and compliance for each of our clients' special circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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