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What the federal budget means for boat builders

Updated: Jun 29, 2022

The Canadian government announced a new budget in early April. The budget promises “investments that grow the labour force, improve workers’ skills and increase the stock of productive capital.” (p. 26) Here are takeaways that may make a difference for boat builders and people in maritime jobs:

  • A “Labour Mobility Deduction” for Tradespeople: a tax credit of up to $4,000 for travel and relocation expenses. Tradespeople often travel to take on temporary jobs, and this credit is meant to ease some of the spending needed to move for such jobs.

  • Improvements to the Temporary Foreign Worker Program: This program allows foreign nationals to take jobs on a temporary basis. With a strained labour market there is increasing demand for the program, so the budget has measures to make it easier for employers to access the program. There is also a “Trusted Employer Program” in the works to allow repeat employers a fast-track to employees. Details of that program are to be announced later this year.

  • Extending Temporary Support for Seasonal Workers: In 2018 EI support was extended to a maximum of 45 weeks to support people working seasonal jobs like fishing. The new budget proposes to extend these rules until October 2023.

  • There are active discussions concerning a proposed luxury tax on cars, aircraft and boats. The proposed tax would apply to recreational/pleasure boats costing over $250,000 and would be either 20% of the value above the threshold or 10% of the full value of the boat, whichever is less. (another link)


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