Commitments
Broaden the 21-year anti-avoidance rule for trust property transfers
Amends the Income Tax Act to prevent indirect trust-to-trust transfers from deferring income tax on accrued capital gains beyond 21 years.
Economy and TradeMandate consumer protections during bank branch closures
Amends the Bank Act to lower account switching costs, mandate closure notices on websites, and clarify online account opening rules to protect rural and remote consumers.
Economy and TradeAmend financial acts to repeal commercial borrowing limits
Replaces rigid statutory limits on commercial loans, real estate, and equity investments with flexible OSFI guidance via amendments to the Bank Act, Insurance Companies Act, and Trust and Loan Companies Act.
Economy and TradeAmend the Bank Act to protect access to brokered deposits
Introduces legislation to prevent large banks from restricting smaller competitors' access to deposit distribution networks, enhancing sector competition.
Economy and TradeMandate an FCAC report on bank fees
Directs the Financial Consumer Agency of Canada to analyze and publicly report on the pricing structures and transparency of Canadian banking fees.
Economy and TradeInclude Mortgage Professionals in Anti-Money Laundering Regulations
The Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations will be amended to ensure mortgage administrators, brokers, and lenders are included under subsection 4.1(c).
Justice and Public SafetyEnsure Confidentiality of Beneficial Ownership Discrepancy Reports
The PCMLTFA and the Access to Information Act will be amended to protect the confidentiality of discrepancy reports regarding beneficial ownership.
Justice and Public SafetyProtect Confidential Information Under the Retail Payment Activities Act
The Access to Information Act will be amended to prevent the disclosure of sensitive information collected and produced under the Retail Payment Activities Act.
Economy and TradeExpand OSFI Information Sharing Capabilities with Federal Agencies
The Office of the Superintendent of Financial Institutions Act will be amended to broaden the Superintendent's ability to receive and share information with other federal government bodies.
Economy and TradeEnhance OSFI Authorities to Address Integrity and Security Risks
Amendments to the Bank Act and related statutes will strengthen the Superintendent of Financial Institutions' powers to mitigate integrity and security risks within the financial sector.
Economy and TradeProhibit Account Switching Fees Following Branch Closure Notices
The Bank Act will be amended to ban banks from charging certain account switching or closure fees for a 12-month period starting from the time a branch closure notice is issued.
Economy and TradeEnable Notice-and-Access Delivery for Financial Institution Governance Documents
The Bank Act and related statutes will be amended to allow financial institutions to use a notice-and-access method for electronic delivery of governance documents, while preserving the right to request mail delivery.
Economy and TradeReplace Statutory Borrowing Limits with Flexible OSFI Guidance
Amendments to financial institution acts will repeal technical limits on borrowing and portfolio investments (such as commercial loans and real estate) and replace them with more adaptable guidance from the Office of the Superintendent of Financial Institutions.
Economy and TradeIncrease the Canada Mortgage Bonds annual issuance limit to $80 billion
Raises the annual issuance limit for Canada Mortgage Bonds by $20 billion to exclusively support multi-unit housing construction, effective 2026.
HousingRepeal the Underused Housing Tax Act by 2035
Fully repeal the Underused Housing Tax Act and the Underused Housing Tax Regulations, coming into force on January 1, 2035.
HousingExpand eligible activities under the Canadian Exploration Expense
Modify the Income Tax Act to give effect to proposals broadening the scope of eligible activities that qualify for the Canadian Exploration Expense deduction.
Economy and TradeRestrict tax deferrals through tiered corporate structures
Amend the Income Tax Act to address tax deferrals achieved through tiered corporate structures by modifying the rules governing dividend refunds and staggered year-ends for affiliated corporations.
Economy and TradeImplement the Clean Electricity Investment Tax Credit
Modify the Income Tax Act to give legislative effect to the proposed Clean Electricity Investment Tax Credit and related Canada Growth Fund provisions.
Environment and ClimateAdd specific minerals to the Clean Technology Manufacturing Investment Tax Credit
Amend the Income Tax Act to include antimony, gallium, germanium, indium, and scandium as qualifying materials under the Clean Technology Manufacturing Investment Tax Credit.
Economy and TradeExtend tax-deferred cooperative shares for agricultural cooperatives to 2031
Amend the Income Tax Act to extend the period during which agricultural cooperative corporations can issue tax-deferred shares as patronage dividends to eligible members until 2031.
Agriculture and FoodLegislate the Canada Carbon Rebate
Modify the Income Tax Act to formally enact the Canada Carbon Rebate as proposed in the Budget documents.
Environment and ClimateAmend qualifying expenditure rules for the Home Accessibility Tax Credit
Amend the Income Tax Act to restrict qualifying expenditures for the Home Accessibility Tax Credit if they are already claimed as a medical expense deduction under section 118.2, effective January 1, 2026.
Social ProgramsIncrease the Lifetime Capital Gains Exemption to $1.25 million
Proceed with the Budget 2024 proposal to raise the Lifetime Capital Gains Exemption limit to $1.25 million for eligible capital gains.
Economy and TradeImplement an opt-in FACT sales tax framework for Indigenous governments
Proceed with legislation to create an opt-in value-added sales tax framework covering Fuel, Alcohol, Cannabis, Tobacco, and Vaping (FACT) for interested Indigenous governments.
Indigenous AffairsLegislate the suspension of the double taxation agreement with Russia
Enact legislative amendments to formally suspend the Canada-Russia double taxation and fiscal evasion agreement under domestic law, effective November 18, 2024.
Foreign AffairsRemove the GST on the construction of new student residences
Proceed with legislative and regulatory proposals to eliminate the Goods and Services Tax (GST) on the construction of new student residences.
HousingMake Canada Carbon Rebates for Small Businesses tax-free
Proceed with legislative proposals to ensure the Canada Carbon Rebate for Small Businesses is non-taxable and extend the filing deadline for the 2019-2023 calendar years.
Economy and TradeDefer the implementation of the Crypto-Asset Reporting Framework to 2027
Delay the application date of the Crypto-Asset Reporting Framework and the Common Reporting Standard to January 1, 2027.
Economy and TradeDefer new reporting requirements for non-profit organizations to 2027
Delay the implementation of new tax reporting requirements for non-profit organizations to taxation years beginning on or after January 1, 2027, to allow time to finalize proposals that minimize administrative burdens.
Economy and TradeImplement a maximum $1,100 Personal Support Workers Tax Credit
Legislate a tax credit for eligible personal support workers, capped at the lesser of $1,100 or 5% of their yearly eligible remuneration, applicable for the 2026 through 2030 taxation years.
HealthcareExtend tax deferrals on agricultural cooperative patronage dividends to 2030
The temporary deferral of income taxes and withholding obligations on patronage dividends received as eligible shares from agricultural cooperatives will be extended to the end of 2030.
Agriculture and FoodBroaden the anti-avoidance rule for indirect trust-to-trust transfers
The government will broaden the current anti-avoidance rule for direct trust-to-trust transfers to also include indirect transfers of trust property to other trusts, preventing the indefinite postponement of tax on accrued gains.
Economy and TradeIntegrate policy and oversight teams within Finance Canada
Restructures the Department of Finance by merging policy and oversight units to improve coordination, reduce structural duplication, and achieve operational efficiencies.
Government ReformImprove visibility and oversight of large contingent liabilities including Indigenous claims
The government will implement enhanced oversight measures to better track and manage significant areas of contingent liabilities, specifically targeting large-scale obligations like the Indigenous-related claims process, to reduce fiscal forecasting uncertainty.
Government ReformReview Countermeasure Revenue Projections Prior to the Next Fiscal Year
The government commits to reviewing fiscal projections related to customs import duties and trade countermeasures prior to the next fiscal year, adjusting for ongoing trade policy developments.
Economy and TradeIntroduce a Voluntary Code of Conduct for the Prevention of Economic Abuse
The government will propose a voluntary Code of Conduct for federally regulated banks aimed at preventing economic and financial abuse, particularly affecting women and Indigenous communities.
Economy and TradeIntroduce a temporary Personal Support Workers Tax Credit providing up to $1,100 annually
Creates a refundable tax credit for the 2026-2030 taxation years, providing up to $1,100 annually to eligible personal support workers in provinces and territories without prior bilateral wage agreements.
HealthcareIntroduce regulations to reduce cheque hold periods and raise the shorter hold threshold to $1,500
Introduces new regulations to reduce cheque hold periods and raises the threshold below which shorter hold periods apply to $1,500.
Economy and TradeAmend the Bank Act to increase immediately available deposited cheque funds to $150
Amends the Bank Act to increase the immediately accessible portion of deposited cheque funds from $100 to $150 and removes the distinction between in-person and alternative deposit methods.
Economy and TradeReview bank and financial institution fees including Interac e-Transfer and ATM fees
Initiates a formal review of fees charged by federally regulated financial institutions, specifically targeting Interac e-Transfer and ATM fees, with an update expected in 2026.
Economy and TradeIntroduce requirements for banks to investigate and resolve misdirected payments
The government will implement new rules requiring banks to investigate and attempt to resolve instances where money transfers are accidentally sent to the wrong recipient.
Economy and TradeIntroduce legislation to regulate the issuance of fiat-backed stablecoins
New legislation will be introduced to regulate fiat-backed stablecoins in Canada, requiring issuers to maintain adequate asset reserves, establish redemption policies, and implement risk management and privacy frameworks.
Economy and TradeLaunch the Real-Time-Rail payments infrastructure in 2026
The government commits to the 2026 launch of the Real-Time-Rail payments system, which will allow instant money transfers between accounts without wait times.
Economy and TradeLegislate write access for consumer-driven banking by mid-2027
The government will accelerate the next phase of open banking by legislating 'write access'—the ability for consumers to direct actions like switching accounts or paying bills via third-party apps—by mid-2027.
Economy and TradeDelegate oversight of the Consumer-Driven Banking Act to the Bank of Canada
Oversight responsibilities for the Consumer-Driven Banking Act will be delegated to the Bank of Canada, supported by up to $19.3 million over two years retained from its remittances to the Consolidated Revenue Fund.
Economy and TradeIssue carbon contracts for difference through the Canada Growth Fund
Maintains the use of carbon contracts for difference to guarantee future carbon prices for investors undertaking large capital projects.
Environment and ClimateTransition to a fall budgeting cycle
Shifts the federal budget release timing to the fall to improve expenditure oversight and provide earlier certainty for construction and investment planning, complemented by spring economic updates.
Government ReformIntroduce a Productivity Super-Deduction to incentivize business investment
The government will create a new tax incentive designed to help companies recover investment costs faster, thereby driving growth and innovation.
Economy and TradeImplement a new Capital Budgeting Framework
The government will adopt a new framework to classify and prioritize spending that contributes to capital formation, including support for third-party capital investments and tax expenditures.
Government ReformIntroduce a comprehensive industrial strategy to drive productivity
The government will launch a comprehensive industrial strategy focused on protecting workers, building infrastructure, purchasing domestic goods, and diversifying exports to drive economic productivity.
Economy and TradeBroaden the 21-year anti-avoidance rule to include indirect transfers of trust property
The Income Tax Act will be amended to close a loophole by applying the 21-year anti-avoidance rule to indirect transfers of trust property, preventing prolonged tax deferral on accrued property gains.
Economy and TradeReplace the registered investment regime with new qualified investment categories by 2027
By 2027, the government will replace the current registered investment regime with new categories of qualified investments for plans like RRSPs and TFSAs.
Economy and TradeAllow duty drawback for specific goods donated to registered charities
The Customs Tariff will be amended to provide duty drawbacks for specific goods donated to registered charities, provided the items are used in charitable programs and not resold in Canada.
Social ProgramsDecouple the guarantees-in-force limit from the insurance-in-force limit in the National Housing Act
Amendments to the National Housing Act will separate the calculation of the guarantees-in-force limit from the insurance-in-force limit to provide greater flexibility in housing finance support.
HousingIncrease the National Housing Act guarantees-in-force limit to $1 trillion
The National Housing Act will be amended to raise the guarantees-in-force limit to $1 trillion, expanding the government's capacity to support housing construction and homeownership.
HousingEnable FINTRAC and FISC members to exchange regulatory and supervisory information
Amendments to the OSFI Act and PCMLTFA will legally authorize the exchange of mandate-relevant regulatory and supervisory information between FINTRAC and members of the Financial Institutions Supervisory Committee.
Economy and TradeMake FINTRAC a member of the Financial Institutions Supervisory Committee
Legislative changes to the OSFI Act and PCMLTFA will formally add FINTRAC to the Financial Institutions Supervisory Committee (FISC) to enhance inter-agency coordination.
Economy and TradeIntroduce a new compliance agreement framework under the PCMLTFA
The government will amend the PCMLTFA to establish a formal compliance agreement framework, providing a new enforcement mechanism to ensure entities adhere to anti-money laundering regulations.
Justice and Public SafetyImprove identification of businesses and professionals with AML/ATF obligations
Amendments to the PCMLTFA will expand the scope and improve the identification of specific businesses and professionals that are subject to anti-money laundering and anti-terrorist financing obligations.
Justice and Public SafetyMake technical amendments to clarify anti-money laundering and anti-terrorist financing regulations
The government will introduce technical amendments to the PCMLTFA, its regulations, and the Access to Information Act to clarify anti-money laundering and anti-terrorist financing rules and improve operational efficiency.
Justice and Public SafetyBolster OSFI's ability to share information with federal government agencies
Amendments to the OSFI Act will explicitly strengthen the Superintendent’s legal capacity to share and receive mandate-relevant information with other federal agencies to protect financial system integrity.
Economy and TradeImplement consumer-driven banking to increase financial service access
Rolls out consumer-driven banking frameworks to increase access to financial services, with a specific focus on benefiting lower-income households.
Economy and TradeIntroduce Enabling Legislation for the Canada Development Investment Corporation
Introduces legislation to continue the Canada Development Investment Corporation (CDEV) as a special Act corporation, including enabling the Minister of Finance to acquire shares or provide loans.
Economy and TradeIncrease the Government's Total Borrowing Limit
Amends the Borrowing Authority Act to increase the government's total borrowing limit under section 4 of the Act.
Economy and TradeIncrease the Protected Limit for Insured Mortgages to $500 Billion
Amends the Protection of Residential Mortgage or Hypothecary Insurance Act to increase the protected limit for insured mortgage loans to $500 billion.
HousingAdd FINTRAC to the Financial Institutions Supervisory Committee
Makes FINTRAC a member of the Financial Institutions Supervisory Committee to facilitate the exchange of regulatory and supervisory information.
Economy and TradeStrengthen Anti-Money Laundering Supervision and Penalties
Strengthens AML/ATF supervision and enforcement by increasing penalties, introducing a new compliance agreement framework, and improving business identification.
Justice and Public SafetyApply PCMLTFA Provisions to All Financial Donations
Amends the PCMLTFA and PCMLTFR to ensure certain provisions apply to all financial donations, regardless of whether the donation qualifies as 'charitable'.
Justice and Public SafetyClarify Regulatory Authority Under the PCMLTFA
Amends the PCMLTFA to explicitly state that its regulations are made on the recommendation of the Minister of Finance.
Justice and Public SafetyClarify Public-Private Information Sharing for Anti-Money Laundering
Clarifies public-to-private information sharing provisions under the PCMLTFA and PIPEDA to support the Integrated Money Laundering Intelligence Partnership (IMLIP).
Justice and Public SafetyRestrict Third-Party Cash Deposits and Large Cash Payments
Amends the PCMLTFA to restrict the acceptance of third-party cash deposits and cash payments or donations of $10,000 or more to combat money laundering.
Justice and Public SafetyEstablish a Financial Crimes Agency
Creates a new Act to establish the Financial Crimes Agency as the primary federal enforcement body against financial crime.
Justice and Public SafetyMandate Finance Minister Consultation Before Imposing Sanctions
Amends the Special Economic Measures Act to mandate consultation with the Minister of Finance before identifying persons under subsection 4(1) of the Act.
Foreign AffairsAuthorize Confiscation of Profits from Sanctioned Property
Authorizes the Governor in Council to require financial institutions to report property and profits of sanctioned entities, and allows the Minister of Finance to order these profits paid to the Receiver General.
Foreign AffairsProtect Finance Officials from Civil Liability for Good Faith Actions
Provides civil liability protection for the Minister of Finance and government officials when performing or omitting actions in good faith under financial institution statutes.
Economy and TradeMandate Digital ID Verification Processes for Remote Bank Account Openings
Requires banks that offer remote account opening to implement sufficient authentication processes for verifying digital ID documents.
Economy and TradeProhibit Account Switching Fees for 12 Months Following a Branch Closure Notice
Prohibits banks from charging account switching or closure fees for a 12-month period following a branch closure notice.
Economy and TradeRequire Banks to Post Public Notice of Branch Closures Online
Amends the Bank Act to mandate that banks publicly announce branch closures on their websites.
Economy and TradeProhibit Financial Institutions from Issuing Bearer Form Share Rights
Prohibits federally regulated financial institutions from issuing documents that grant conversion privileges, options, or share rights in bearer form.
Economy and TradeAdd Considerations for Financial Sector Transaction Approvals
Amends the Bank Act, Insurance Companies Act, and Trust and Loan Companies Act to introduce new matters for consideration during financial sector transaction approvals.
Economy and TradeAllocate $30 billion to purchase Canada Mortgage Bonds in 2026-27
The government will allocate $30 billion within its 2026-27 domestic borrowing program to fund the purchase of Canada Mortgage Bonds to support housing finance.
HousingProvide an update to the 2026-27 borrowing plan ahead of the fiscal year
The government will release an updated borrowing plan prior to the start of the 2026-27 fiscal year to reflect changes in the economic and fiscal environment.
Economy and TradeExempt aircraft and vessel vendors from luxury tax registration
The government will amend the Select Luxury Items Tax Act to remove the requirement for vendors of subject aircraft and vessels to register under the Act following Budget Day.
Economy and TradeModernize transfer pricing rules to align with OECD guidelines
Amends section 247 of the Income Tax Act to update transfer pricing definitions and mandate that analyses and determinations be made to best achieve consistency with the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.
Economy and TradeExpand qualifying materials for the Clean Technology Manufacturing Investment Tax Credit
Amends the Income Tax Act to include antimony, gallium, germanium, indium, and scandium as qualifying materials for the Clean Technology Manufacturing Investment Tax Credit, applicable to property available for use on or after Budget Day.
Economy and TradeExtend tax-deferred cooperative share issuance for agricultural cooperatives to 2030
Amends the Income Tax Act to allow agricultural cooperative corporations to continue issuing tax-deferred cooperative shares to eligible members as patronage dividends until the end of 2030.
Agriculture and FoodAmend the 21-Year Rule for trust property transfers
Updates subsection 104(5.8) of the Income Tax Act concerning the transfer of capital property, land inventory, and resource property between trusts, effective for transfers occurring on or after Budget Day.
Economy and TradeAmend the Income Tax Act to permit information sharing for worker misclassification enforcement
Amends the Income Tax Act to create an exception to taxpayer confidentiality, permitting the Canada Revenue Agency to share information with Employment and Social Development Canada specifically to enforce Canada Labour Code provisions against employee misclassification.
Economy and TradeApply GST/HST to manual osteopathic services provided by non-physicians
The government will amend GST/HST legislation to explicitly state that osteopathic services provided by manual osteopathic practitioners (who are not osteopathic physicians) are subject to tax, closing an unintentional exemption triggered by provincial regulatory changes.
Economy and TradeConsult on proposed Excise Tax Act changes to prevent carousel fraud
The Department of Finance will conduct public consultations until January 12, 2026, to gather feedback on the design of the new reverse charge mechanism rules aimed at preventing GST/HST carousel fraud before tabling enacting legislation.
Economy and TradeIntroduce a reverse charge mechanism for telecommunications to combat carousel fraud
To prevent GST/HST carousel fraud schemes, the government will amend the Excise Tax Act to implement a reverse charge mechanism (RCM) for specific telecommunications services, requiring the recipient rather than the supplier to self-assess and report the tax payable.
Economy and TradeInclude foreign affiliate investment income backing Canadian risks in Foreign Accrual Property Income
The government will clarify that investment income from assets held by a foreign affiliate to back Canadian insurance risks must be included in Foreign Accrual Property Income (FAPI) and taxed on an accrual basis.
Economy and TradeIncrease the transfer pricing penalty threshold to $10 million
The threshold for applying transfer pricing penalties from an assessment will be doubled from $5 million to $10 million to reduce the compliance burden on taxpayers.
Economy and TradeModernize transfer pricing rules to align with international arm's length standards
Domestic transfer pricing rules will be updated and an interpretation rule added to ensure alignment with the internationally recognized arm's length principle and the OECD Transfer Pricing Guidelines framework.
Economy and TradeExclude economic viability and engineering feasibility studies from the Canadian Exploration Expense definition
Amending the Income Tax Act to clarify that expenses for determining the quality of a mineral resource do not include technical studies focused on economic viability or engineering feasibility, effectively tightening the definition of CEE as of Budget Day.
Economy and TradeExempt Canada Growth Fund financing from reducing the cost base for the Clean Electricity ITC
Introducing an exception to ensure that financing provided by the Canada Growth Fund does not reduce the capital cost of eligible property when calculating the Clean Electricity investment tax credit.
Environment and ClimateInclude the Canada Growth Fund as an eligible entity under the Clean Electricity investment tax credit
Making the Canada Growth Fund eligible for the 15% Clean Electricity investment tax credit for property acquired and available for use on or after Budget Day.
Environment and ClimatePostpone the review of the CCUS investment tax credit rates to before 2035
Delaying the planned review of the Carbon Capture, Utilization, and Storage investment tax credit rates by five years, moving the deadline from before 2030 to before 2035.
Environment and ClimateExpand the Clean Technology Manufacturing investment tax credit to five additional critical minerals
Adding antimony, indium, gallium, germanium, and scandium to the list of eligible critical minerals for the 30% Clean Technology Manufacturing investment tax credit, applicable to property acquired and available for use on or after Budget Day.
Economy and TradeExtend the tax deferral on patronage dividends paid in shares by agricultural cooperatives to 2030
Extending the existing tax rule that allows for the temporary deferral of income taxes and withholding obligations on patronage dividends received as eligible shares from agricultural cooperatives until the end of 2030.
Agriculture and FoodProvide temporary immediate expensing for eligible manufacturing and processing buildings
Introducing a 100-per-cent tax deduction in the first year for eligible manufacturing or processing buildings (and additions/alterations) acquired and first used before 2030, provided 90% of floor space is used for such purposes. Rates will phase down to 75% for 2030-2031 and 55% for 2032-2033.
Economy and TradeCease Canada Carbon Rebate payments for tax returns filed after October 2026
Amending the Income Tax Act to wind down the Canada Carbon Rebate program, ensuring no payments are made for tax returns or adjustment requests filed after October 30, 2026, following the removal of the federal fuel charge.
Environment and ClimateBroaden anti-avoidance rules for indirect trust-to-trust property transfers
The government will broaden the anti-avoidance rule for the 21-year deemed disposition rule to include indirect transfers of trust property to other trusts, applicable to transfers occurring on or after Budget Day.
Economy and TradePrevent dual claiming of the Medical Expense and Home Accessibility tax credits
Amending the Income Tax Act starting in the 2026 taxation year to prevent taxpayers from claiming the same expense under both the Medical Expense Tax Credit and the Home Accessibility Tax Credit.
Economy and TradeWind down CRA business units for the Digital Services Tax, Federal Fuel Charge, and Canada Carbon Rebate
The CRA will dismantle the administrative business units previously responsible for managing the Digital Services Tax, Federal Fuel Charge, and Canada Carbon Rebate as part of its operational modernization and alignment with current priorities.
Government ReformGuarantee minimum 3% annual growth for the Canada Health Transfer post-2027
Upon the expiry of the current 5 percent growth guarantee in 2027-28, the Canada Health Transfer will transition to growing in line with a three-year moving average of nominal GDP, with a mandated minimum growth rate of 3 percent per year.
HealthcareRepeal the Underused Housing Tax
The government will repeal the Underused Housing Tax (UHT), resulting in zero projected revenues from this stream starting in 2025-26.
HousingRepeal the Digital Services Tax
The government will repeal the Digital Services Tax (DST), bringing projected revenues from this tax to zero for the 2025-26 fiscal year.
Economy and TradeCease the application of the federal fuel charge
The government will end the application of the federal fuel charge across all applicable jurisdictions effective April 1, 2025, halting the consumer-facing carbon pricing mechanism.
Environment and ClimateIntroduce a temporary Top-Up Tax Credit
Creates a $70 million temporary tax credit to offer transitional support for Canadians whose non-refundable tax credit amounts surpass the first income tax bracket threshold.
Economy and TradeLegislate the exemption of the Canada Disability Benefit from taxable income
Introduces legislation to amend the Income Tax Act so that the Canada Disability Benefit is not treated as taxable income, protecting recipients' access to other income-tested benefits.
Social ProgramsInvest $2 billion from the Canada Growth Fund in the Darlington New Nuclear Project
Provides a $2 billion investment to support the construction of small modular reactors at the Darlington New Nuclear Project.
Infrastructure and TransportLaunch a $10 billion Large Enterprise Tariff Loan facility
Establishes a $10 billion financing facility to provide liquidity support to large Canadian firms impacted by tariffs and trade countermeasures.
Economy and TradeDevelop a Voluntary Code of Conduct for Brokered Deposits
Work with banks to establish a voluntary code of conduct that strengthens smaller financial institutions' access to distribution channels for brokered deposits.
Economy and TradeRaise the Public Holding Requirement Threshold for Financial Institutions
Propose legislative amendments to increase the 35% public holding requirement threshold from $2 billion to $4 billion to allow small financial institutions to grow.
Economy and TradeAmend Legislation to Facilitate Credit Union Scaling and Federal Entry
Propose amendments to the Bank Act and CDIC Act to help federal credit unions achieve scale and assist provincial credit unions in entering the federal framework.
Economy and TradeSimplify the Process of Switching Primary Chequing Accounts
Work with banks to develop simpler processes for consumers to switch their primary chequing accounts to other Canadian financial institutions.
Economy and TradeExplore Improving Transparency for Cross-Border Transfer Fees
Investigate measures to increase the transparency of foreign exchange costs and cross-border transfer fees charged by banks.
Economy and TradeMandate Timely Transfer of Registered Accounts
Require financial institutions to process registered account transfers in a timely manner and provide clear information on the process and absence of fees.
Economy and TradeProhibit Investment and Registered Account Transfer Fees
Publish draft regulations by spring 2026 to ban fees for transferring investment and registered accounts, saving Canadians an average of $150 per account.
Economy and TradeRepeal Borrowing and Portfolio Investment Limits for Financial Institutions
Amend financial institutions statutes to repeal rigid borrowing and portfolio investment limits, replacing them with flexible guidance from the Office of the Superintendent of Financial Institutions.
Economy and TradeImprove Climate Disclosure Standards Across the Economy
Collaborate with provincial and territorial governments to enhance economy-wide climate disclosure, ensuring alignment with international standards.
Environment and ClimateConsult on Domestic Content Requirements for Clean Technology and Clean Electricity Tax Credits
Initiate consultations on the possibility of implementing domestic content requirements for the Clean Technology and Clean Electricity investment tax credits.
Economy and TradeRemove Eligibility Conditions for Provincial Crown Corporations to Access Clean Electricity ITC
Remove the eligibility conditions imposed on provincial and territorial governments to allow their Crown corporations to access the Clean Electricity investment tax credit without administrative burden.
Economy and TradeProtect federal transfers to individuals, provinces, and territories
Guarantees no cuts will be made to core social support transfers including pensions, EI, CCB, Equalization, the Canada Health Transfer, and the Canada Social Transfer.
Social ProgramsBalance the federal operating budget by Budget 2028
Sets a hard fiscal target to eliminate the estimated $15 billion annual gap between revenues and operating spending within four years to ensure responsible fiscal management.
Economy and TradeConsult on increasing the annual Labour Mobility Tax Deduction limit
Engage with key industries to determine an appropriate, significantly higher annual limit for the Labour Mobility Tax Deduction.
Economy and TradeProvide up to $1,100 annually to PSWs via the Health Care Workers Hero Tax Credit
Introduce or expand the Health Care Workers Hero Tax Credit to provide Personal Support Workers (PSWs) with up to $1,100 in tax relief per year.
HealthcareCut the GST for first-time homebuyers
Eliminate or reduce the Goods and Services Tax (GST) applied to home purchases made by first-time buyers to improve affordability for young Canadians.
HousingInvest $150 billion to catalyze $500 billion in new private sector investment over 5 years
Deploy nearly $150 billion in cash-basis measures over a five-year period to stimulate the economy and attract $500 billion in new private sector investments.
Economy and TradeExpand the Labour Mobility Tax Deduction for Skilled Trades
Broaden the Labour Mobility Tax Deduction to allow workers who travel more than 120 km to a job site to deduct expenses, and increase the annual tax deduction limit following industry consultation.
Economy and TradeIntroduce a 20% AI Deployment Tax Credit for SMEs
Create a new AI deployment tax credit allowing small and medium-sized businesses to claim a 20% credit on qualifying AI adoption projects, provided they demonstrate job creation.
Economy and TradeExtend Immediate Expensing and the Accelerated Investment Incentive
Prolong tax provisions that allow for the immediate expensing of manufacturing or processing machinery, clean energy generation equipment, energy conservation equipment, and zero-emission vehicles, alongside the Accelerated Investment Incentive.
Economy and TradeExplore the Development of a Sustainable Bond Framework
Explore creating a framework for issuing green and transition bonds aligned with a Canadian taxonomy to finance industrial and agricultural clean transition.
Economy and TradeFinalize Made-in-Canada Sustainable Investment Guidelines by Fall 2026
Complete and officially implement voluntary, made-in-Canada sustainable investment guidelines applicable to all priority sectors by the fall of 2026 to provide market certainty.
Economy and TradeInclude Brownfield Mine Development in Clean Tech Manufacturing ITC
Amend the Clean Technology Manufacturing Investment Tax Credit to cover expenses related to critical mineral mine development at brownfield sites, and expand the priority critical minerals list.
Economy and TradeLegislate the separation of capital and operating spending with new PBO powers
Introduces legislation to formally divide capital and operating budgets, accompanied by granting new powers and resources to the Parliamentary Budget Office to oversee this transparent expenditure categorization.
Government ReformLead G7 and European efforts to finalize OECD international tax rules
Commits to diplomatic and economic leadership to implement a consistent global tax framework ensuring large multinational corporations pay a fair share of profits in operating jurisdictions.
Economy and TradeConduct an expert review of the corporate tax system
Launch a comprehensive, expert-led review of the corporate tax framework to ensure it remains competitive, simple, and fair.
Economy and TradeEnsure the government debt-to-GDP ratio declines over the budget horizon
Commits to a fiscal anchor requiring the federal debt-to-GDP ratio to consistently decrease throughout the multi-year budgetary projection period.
Economy and TradeModernize the Special Import Measures Act and legislate safeguard timelines
Updates Canada's trade remedy tools to address circumvention and diversion, specifically by introducing legislated, express timelines for safeguard actions to protect domestic industries.
Economy and TradeCreate a Canada Patent Box to Retain Intellectual Property
Establish a Patent Box tax incentive regime designed to reward innovators and builders who retain their intellectual property and business operations within Canada.
Economy and TradeIntroduce Flow-Through Shares for the Canadian Startup Ecosystem
Adapts the flow-through share model (traditionally used in mining) to the technology sector, allowing startups in AI, quantum, biotech, and advanced manufacturing to pass R&D tax deductions directly to investors.
Economy and TradeIncrease the SR&ED Claimable Amount to $6 Million for Canadian Companies
Significantly raises the cap on eligible R&D expenses that Canadian companies can claim under the SR&ED program to $6 million, aiming to boost domestic innovation and global competitiveness.
Economy and TradeCancel the Proposed Hike in the Capital Gains Inclusion Rate
Reverses a previously proposed tax policy change, maintaining the capital gains inclusion rate at its current level to incentivize investment and support small businesses.
Economy and TradeExtend the Carbon Capture Utilization and Storage Investment Tax Credit to 2035
Extend the duration of the Carbon Capture Utilization and Storage Investment Tax Credit (CCUS ITC) so that its full value remains available to companies until 2035.
Environment and ClimateDevelop a Carbon Border Adjustment Mechanism
Create and implement a Carbon Border Adjustment Mechanism (CBAM) to protect energy-intensive, trade-exposed Canadian sectors (like steel and aluminum) from unfair international competition.
Economy and TradeIssue $10 Billion Annually in Transition Bonds by 2027
Creates a new financial instrument designed to raise large-scale capital specifically for decarbonizing the industrial and agricultural sectors, with a hard target of $10 billion in annual issuance.
Economy and TradeLeverage Canada Growth Fund for Critical Minerals Projects
Directs the Canada Growth Fund to specifically target and accelerate private capital investment into domestic critical minerals projects.
Economy and TradeCut Middle-Class Income Taxes to Save Dual-Income Families up to $825 Annually
Reduces income taxes for middle-class earners, specifically projecting up to $825 in annual savings for dual-income households.
Economy and TradeExpand Eligible Activities Under Canadian Exploration Expenses
Modify the rules for Canadian exploration expenses to allow deductions for the costs of technical studies, such as engineering, economic, and feasibility studies specific to critical minerals projects.
Economy and TradeBroaden the Critical Mineral Exploration Tax Credit
Expands the existing Critical Mineral Exploration Tax Credit to cover a broader range of minerals deemed essential for defence, semiconductors, and clean energy technologies.
Economy and TradeReintroduce the Multi-Unit Rental Building (MURB) Tax Incentive
Restores a historical tax incentive program designed to spur private investment in the construction of purpose-built rental housing units.
HousingReview Mortgage Market to Enable Longer Interest Rate Terms
Conducts a formal review of Canada's mortgage regulations to identify and remove barriers to longer-term fixed interest rate mortgages, aiming to increase household financial stability.
HousingReduce Lowest Income Tax Bracket Marginal Rate by 1 Percentage Point
Implements a broad-based tax cut targeted at the middle class by lowering the marginal rate on the lowest federal income tax bracket by 1%, effective July 1, 2025.
Economy and TradeReduce minimum RRIF withdrawals by 25% for one year
Provides temporary tax relief for seniors by legislating a one-year, 25% reduction in the mandatory minimum withdrawal rates for Registered Retirement Income Funds (RRIFs), allowing seniors to keep more capital invested during market volatility.
Social ProgramsRedirect retaliatory tariff revenues to support affected Canadian workers and businesses
Commits to using all revenue generated from retaliatory tariffs against the U.S. to directly support Canadian workers and businesses negatively impacted by the trade dispute.
Economy and TradeIncrease the Indigenous Loan Guarantee Program to $10 billion and expand sectoral scope
Expand the financial capacity of the Indigenous Loan Guarantee Program from $5 billion to $10 billion and broaden its scope to include infrastructure, transportation, and trade projects.
Indigenous Affairs