Ontario released its 2016 budget today. Among other tax measures, the Budget announced updates to the Ontario Income Tax Act to parallel changes in the federal income tax regime, measures to simplify the Personal Income Tax system, and new credits for tuition, home renovation and research and development. The Budget also announced a cap and trade program for the reduction in greenhouse gas emissions.

More information on the Budget can be found on the Ontario government’s 2016 Budget website:

http://www.fin.gov.on.ca/en/budget/ontariobudgets/2016/