Ontario Budget Report 2017

April 27, 2017

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On April 27, 2017, the Honourable Charles Sousa presented his sixth budget as Minister of Finance. With a growing economy, the Ontario Liberal government was able to produce its first balanced budget in a decade.

If the economy continues to grow, there is potential for revenues to soon exceed expenditures, giving the government the opportunity to reduce taxes or government debt. However, with a provincial election just over a year away, the government is focused on increasing spending that may result in a return to deficits and increasing debts.

HIGHLIGHTS

  • Deficit of $1.5 billion now forecast for 2016-17
  • Balanced budget for 2017-18; balanced budget maintained for 2018-19 and 2019-20
  • Increased spending in health care and infrastructure
  • Tax system review announced

 

For more information, contact: 

Dave Walsh 
Partner, Tax Service Line Leader

John Wonfor
Partner, National Tax Office Leader

Rachel Gervais
Partner, GTA Group Tax Service Line Leader & Transaction Tax Practice Leader

Peter Routly
Partner, Central Group Tax Service Line Leader

Shelley Smith
Partner, East Group Tax Service Line Leader & Indirect Tax Practice Leader 

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