CALU Submission to Finance on AMT

CALU has made representations to the Department of Finance on modifications to the AMT proposed in Budget 2023. We expressed general support for the stated intent of narrowing the application of the AMT to high income Canadians but provided recommendations to address two potentially problematic areas. First to lessen the impact of the AMT on taxpayers with a large one-time income event, and second to allow trusts to benefit from the same deduction available to all other individual taxpayers. CALU will continue its advocacy on this issue in anticipation of legislation expected later this year.