On March 22, 2016, Finance Minister Bill Morneau tabled his first Federal Budget. After 10 years of Conservative Budgets, this one feels different. It may be a matter of style and tone but there are also substantive changes.

The government followed through on its promise to increase spending on infrastructure, as well as overhaul the child benefit system. There were also a number of important tax and policy changes that will be of interest to Canadian investors.The biggest tax change proposed by the new government is already in effect. In December 2015, effective January 1, 2016, it was announced that the second federal income tax bracket was to be reduced from 22 percent to 20 percent and a new 33 percent tax bracket would apply for taxable income in excess of $200,000. With this also came a tax increase of 4 percent on investment income of a corporation and adjustments to dividend refund and refundable dividend tax on hand calculations.By far the biggest pre-Budget speculation did not come true - no change to the capital gains inclusion rate nor the stock options deduction.

Below is an infographic highlighting the changes in the 2016 Liberal Budget. 

If you have any questions or would like further details regarding the above budget for 2016, please 

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