Ontario Budget Commentary 2023
On March 23, 2023, the government presented its Ontario Budget 2023 – Building a Strong Ontario. The budgetary deficit for 2022-2023 is projected at $2.2 billion, decreasing to $1.3 billion in 2023-2024, before returning to surpluses of $0.2 billion in 2024-2025 and $4.4 billion in 2025-2026.
This year’s budget highlights include:
- 2023 Corporate Income Tax Rates
- Ontario Made Manufacturing Investment Tax Credit
- Ontario Small Business Deduction
- Modernizing Ontario’s Film and Television Credits
- Personal Income Tax Rates
- Harmonizing Wine Tax
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