Ontario Budget Commentary 2023

March 24, 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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