C-31 (45-1) - Budget 2025 Implementation Act, No. 2

This article is new today!

Source: Parliament of Canada (LEGISinfo)
Date: 2026-10-30 12:26:14.0
Tags: [National, Finance, Taxation, Economy, Governance]

Bill C-31 (45th Parliament, 1st Session), titled the Budget 2025 Implementation Act, No. 2 and sponsored by Minister of Finance and National Revenue, has advanced to the report stage in the House of Commons following committee review by the Standing Committee on Finance, which presented its report with amendments on October 30, 2026. The legislation implements provisions stemming from the federal budget tabled on November 4, 2025, and the 2026 Spring Economic Update titled 'Canada Strong For All'. The Senate has concurrently authorized pre-study of the bill's subject matter across multiple standing committees, including the Standing Senate Committee on National Finance and specialized sectoral committees assigned to specific divisions of Part 4 of the bill.

A Plan to Protect Ontario

Source: Ontario - Ministry of Finance
Date: 2026-10-29 18:10:00.0
Tags: [Ontario, Economy, Taxation, Finance, Trade, Industry]

Ontario Minister of Finance Peter Bethlenfalvy released the 2026 Ontario Economic and Fiscal Review: A Plan to Protect Ontario, projecting a deficit of $16.9 billion in 2026-27 and a return to a balanced budget in 2029-30. The fiscal plan features an $8 billion Ontario Competitiveness Tax Cut tied to the federal Productivity Mega Deduction, an $8.7 billion Canada-Ontario action plan targeting the steel, automotive, and critical minerals sectors, and nearly $30 billion in cumulative tariff relief and business supports implemented since April 2025. Additionally, the government committed to streamlining 35 to 50 percent of the province's 375 business-facing permits by the end of 2028 and restoring capital expenditures as eligible under the Ontario Research and Development Tax Credit and Ontario Innovation Tax Credit to provide over $50 million in tax support over three years.

Province Announces $8 Billion Ontario Competitiveness Tax Cut to Support Investment and Create 30,000 Jobs

Source: Ontario - Ministry of Finance
Date: 2026-10-28 14:08:00.0
Tags: [Ontario, Taxation, Economy, Finance, Trade, Industry]

The Ontario Ministry of Finance announced the $8 billion Ontario Competitiveness Tax Cut as part of its multi-year Tax Action Plan to counter U.S. tariffs and lower business investment costs. Administered as the provincial counterpart to the federal Productivity Mega Deduction, the policy allows eligible businesses to immediately write off 100 per cent of capital investments in assets such as fibre-optic cables, software, aircraft, machinery, and patents. The measure is projected to drive at least $11 billion in new capital investment, add $6 billion to the provincial GDP, and support the creation of 30,000 new jobs over five years. Combined with prior initiatives from Budget 2026, total business tax relief will exceed $12 billion over five years, reducing Ontario's Marginal Effective Tax Rate to 3.6 per cent.

Ontario Saving Businesses $160 Million as WSIB Lowers Premiums

Source: Ontario - Ministry of Labour, Immigration, Training and Skills Development
Date: 2026-10-22 14:00:00.0
Tags: [Ontario, Economy, Labour, Taxation, Trade]

The Ontario Ministry of Labour, Immigration, Training and Skills Development announced that the Workplace Safety and Insurance Board (WSIB) will decrease its average premium rate from $1.23 to $1.18 per $100 of insurable payroll, effective January 1, 2027, saving employers a total of $160 million. This reduction applies to over 80 per cent of premium-paying businesses—encompassing approximately 330,000 insured businesses and 5.6 million workers—and lowers Ontario's average WSIB premium rate to nearly 30 per cent below the national average. The initiative is paired with broader provincial economic measures to offset U.S. tariffs, including cutting the small business corporate income tax rate from 3.2 per cent to 2.2 per cent to deliver $1.1 billion in relief, investing $150 million through the Ontario Together Trade Fund, expanding the $1 billion Protect Ontario Financing Program, and allocating $228 million through the Canada–Ontario Workforce Tariff Response.

Industry leader lauds Edmonton's proposed industrial investment plan

Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-10-21 20:53:29.0
Tags: [Alberta, Municipal, Economy, Taxation, Industry, Infrastructure]

The City of Edmonton is considering a new industrial investment plan during its upcoming four-year budget deliberations to stimulate non-residential tax growth and job creation. Proposed incentives include a 25 per cent property tax forgiveness for three years for new industrial builds—costing the city roughly $1 million annually while opening up 15 hectares of land per year—and a $23 million four-year 'first mover' plan allowing developers to apply for municipal infrastructure cost reimbursements. Panattoni Development vice-president Mark Edwards lauded the initiatives, noting they will help overcome investment freezes and competition from surrounding municipalities with lower service costs. Currently, only 2.6 per cent of Edmonton's industrial land is shovel-ready, falling short of the city's 4.5 per cent target.

Small Businesses are the Backbone of Saskatchewan's Economy

Source: Saskatchewan - Government News
Date: 2026-10-21 02:00:00.0
Tags: [Saskatchewan, Economy, Taxation, Industry, Labour]

The Government of Saskatchewan recognized Small Business Week for October 19 to 25, 2026, and released the Saskatchewan Small Business Profile by the Ministry of Trade and Export Development. The report notes that the province is home to 156,850 small businesses (defined federally as having fewer than 50 employees), which accounted for 98.8 percent of all businesses in 2025, employed approximately 30 percent of the provincial workforce, and provided over $8.3 billion in wages and salaries. The province maintains a permanent small business tax rate of 1 percent and has increased the small business income threshold from $500,000 to $600,000.

Ontario Celebrates Small Business Week

Source: Ontario - Ministry of Economic Development, Job Creation and Trade
Date: 2026-10-19 14:00:00.0
Tags: [Ontario, Economy, Taxation, Finance, Industry, Labour]

In recognition of Small Business Week, Associate Minister Nina Tangri highlighted that Ontario's over 500,000 small businesses employ nearly 2.5 million people. The 2026 Ontario Budget cut the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, providing $1.1 billion in relief and up to $5,000 in annual savings to over 375,000 small businesses. Additionally, the government is investing a record $49 million over the next three years in the Ontario Small Business Advisory Centres (OSBACs) network across more than 50 locations, alongside ongoing investments in Futurpreneur and Summer Company.

Minister Pardy Tables 2025-26 Public Accounts

Source: Newfoundland & Labrador - Government Releases
Date: 2026-10-16 16:05:45.0
Tags: [Newfoundland and Labrador, Finance, Economy, Taxation, Infrastructure]

The Government of Newfoundland and Labrador released its independently audited 2025-26 Public Accounts ahead of the November 1 statutory deadline, revealing a deficit of $377.6 million, which is $5.8 million higher than originally budgeted. Total revenue exceeded the budget by $420.8 million, bolstered by offshore royalties reaching $1.7 billion—approximately $350 million higher than the previous year—along with increased taxation and federal revenues. The province invested approximately $774 million in capital acquisitions for public infrastructure, transportation assets, health care facilities, and schools, while net debt at year-end was approximately $434 million lower than originally budgeted and the unfunded pension liability declined by approximately $483 million.

N.W.T. industry minister makes case for new federal mining incentives

Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
Date: 2026-10-15 10:00:00.0
Tags: [National, Mining, Resources, Taxation, Industry, Economy]

Northwest Territories Minister of Industry, Tourism and Investment Caitlin Cleveland lobbied the federal government in Ottawa to enact two new mining incentives: a 15 per cent stackable North of 60 Mineral Exploration Tax Credit for the three northern territories, and the inclusion of zinc as an eligible mineral under the 30 per cent clean technology manufacturing investment tax credit. Cleveland and N.W.T. and Nunavut Chamber of Mines CEO Paul Hébert argued these credits are essential to counter stiff global competition and revive northern mining activity amid closing diamond mines. Proponents of the PC Silver and Pine Point mines indicated that adding zinc to the clean technology tax credit would unlock projects capable of generating 1,000 construction jobs and 600 operational positions.

Provinces call on Ottawa to expand mining credit

Source: Global News Politics
Date: 2026-10-10 12:17:12.0
Tags: [National, British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia, Taxation, Economy, Resources, Mining, Finance]

Nearly half of Canada's provinces and territories—specifically Nova Scotia, Manitoba, Saskatchewan, Alberta, British Columbia, and Yukon—are urging the federal Liberal government to fulfill its 2025 election promise to expand the mineral exploration tax credit to include engineering and feasibility study costs. The Association for Mineral Exploration and the Nunavut and N.W.T. Chamber of Mines argue this measure is crucial to help junior mining companies navigate the late-stage 'valley of death' financing gap. An Ernst & Young report commissioned by the association indicates that covering feasibility and economic viability studies could generate between 14,000 and 34,000 jobs and add $5.2 billion to $12.2 billion in GDP over 10 years. While Finance Minister François-Philippe Champagne's office highlighted recent federal initiatives such as the Productivity Mega Deduction and the Critical Mineral Exploration Tax Credit, federal expenses under the Canadian exploration expenses framework still exclude economic assessments and feasibility studies.

Islanders will pay less at the pump starting Saturday as P.E.I. suspends provincial fuel tax

Source: Prince Edward Island - Regional News
Date: 2026-09-25 14:05:00.0
Tags: [Prince Edward Island, Taxation, Affordability, Economy, Agriculture, Transportation]

The Government of Prince Edward Island announced a four-month suspension of its provincial fuel tax on gasoline and diesel, effective from September 26, 2026, until January 31, 2027. The tax break eliminates the 8.47 cents per litre tax on gasoline and the 14.15 cents per litre tax on diesel, dropping both rates to zero to provide relief amid high global oil prices. Following the suspension, from February 1 to March 31, 2027, the tax will return at half its current rate (4.24 cents per litre for gasoline and 7.08 cents per litre for diesel) before being fully restored on April 1, 2027. The policy impacts provincial revenue previously budgeted at approximately $28.2 million in gasoline-tax collection for the 2026-2027 fiscal year, compounding existing concerns over P.E.I.'s projected $410 million deficit and growing debt.

Health spending helped push New Brunswick deficit to record $1.3B in last fiscal year

Source: New Brunswick - Regional News
Date: 2026-09-25 13:46:00.0
Tags: [New Brunswick, Finance, Healthcare, Social Services, Economy, Taxation]

The Government of New Brunswick announced a record deficit of $1.3 billion for the previous fiscal year, more than double the $549-million shortfall projected in the March 2025 budget by the Liberal government. Provincial revenues fell short by nearly $217 million due to lower harmonized sales taxes and reduced corporate and personal income taxes. Conversely, expenses exceeded expectations by almost $538 million, primarily driven by increased spending on healthcare and social development. Finance Minister René Legacy noted that the province closed the fiscal year with a net debt of $13.9 billion while facing ongoing cost pressures and potential U.S. trade tariffs.

Ontario Investing $49 Million to Strengthen Supports for Small Business

Source: Ontario - Ministry of Economic Development, Job Creation and Trade
Date: 2026-09-24 14:00:00.0
Tags: [Ontario, Economy, Taxation, Industry, Finance]

The Ontario government is investing a record $49 million over three years into the Ontario Small Business Advisory Centres (OSBAC) network—formerly known as Small Business Enterprise Centres—to provide business support services across more than 50 locations. Backed by Associate Minister of Small Business Nina Tangri, the funding aims to help entrepreneurs navigate economic uncertainty and U.S. tariffs by streamlining access to one-on-one consultations, advisory services, and provincial programs like Summer Company, Starter Company Plus, and Succession Ontario. This initiative is part of a broader economic plan that also includes cutting the small business corporate income tax rate from 3.2 percent to 2.2 percent, saving over 375,000 small businesses up to $5,000 annually and providing $1.1 billion in total tax relief over three years.

Alberta drivers get relief at the pump, while producers squeezed by lower prices

Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-09-23 12:05:22.0
Tags: [Alberta, Taxation, Energy, Economy]

Premier Danielle Smith announced that Alberta will suspend its 13-cent-a-litre provincial fuel tax from October 1 through the end of 2026, driven by North American oil prices averaging nearly US$91 a barrel. Meanwhile, Alberta oil producers are facing a US$21 per barrel discount relative to North American benchmarks due to a power outage and subsequent shutdown at ExxonMobil Holdings Corp.'s 275,000-barrel-per-day refinery in Joliet, Illinois. Market experts such as Richard Masson of the Alberta Petroleum Marketing Commission and Plainview Energy Analytics founder Matthew Lewis note that production growth, full pipelines, and refinery outages in the U.S. Midwest are heavily impacting regional heavy crude pricing differentials.

Liberals extending fuel excise tax suspension to January

Source: Global News Politics
Date: 2026-09-22 15:47:52.0
Tags: [National, Taxation, Economy, Energy]

Federal Finance Minister François-Philippe Champagne announced that the federal government is extending the temporary suspension of the fuel excise tax until the end of January. The policy continuation responds to elevated fuel prices in Canada driven by global market impacts, specifically the U.S. war on Iran and the resulting closure of the Strait of Hormuz since March.

Canadian artists grapple with U.S. tariffs, find new buyers amid trade war

Source: Global News Politics
Date: 2026-09-22 10:00:06.0
Tags: [National, Trade, Economy, Culture, Taxation]

Following the breakdown of Canada-U.S. trade negotiations under U.S. President Donald Trump's administration, the United States imposed a 50 per cent tariff on Canadian visual arts, crafts, and natural materials, including paintings, sculptures, and jewelry. The Visual Arts Alliance and the Canadian Artists Representation (CARFAC) have called on the federal government to implement targeted financial relief for artists and galleries, establish a GST exemption for buyers of Canadian-made art, and create clear customs policies for temporary art exports. Industry advocates, such as OCAD University President Ana Serrano, are urging Ottawa to treat cultural and creative industries as intellectual property and actively promote them in foreign export markets like Europe to offset losses in the U.S.

House of Commons returns for fall sitting after turbulent summer

Source: CBC Politics
Date: 2026-09-21 16:59:49.0
Tags: [National, Economy, Trade, Taxation, Governance, Labour]

The House of Commons resumes its fall sitting under Prime Minister Mark Carney, with the legislative agenda dominated by U.S.-Canada trade tensions and retaliatory tariffs following the collapse of trade talks. The federal government plans to introduce a productivity "mega-deduction" allowing companies to expense total capital investments, balance the day-to-day operating budget by next year, and advance Bill C-31 to implement 2025 budget tax and defence procurement provisions. Additional legislative priorities include extending the excise tax holiday on gasoline, streamlining major project reviews, modifying the Labour Code, and progressing left-over spring bills concerning under-16 social media restrictions, First Nations drinking water frameworks, and corporate data privacy rules.

House of Commons is back as Liberals vow ‘significant’ legislation coming

Source: Global News Politics
Date: 2026-09-21 12:19:28.0
Tags: [National, Economy, Trade, Taxation, Labour, Governance]

As the House of Commons resumes the fall sitting, Prime Minister Mark Carney and Government House leader Steven MacKinnon have announced plans to introduce significant economic legislation and major changes to the federal labour code. Finance Minister François-Philippe Champagne is preparing to introduce a bill extending relief for the excise tax on fuel alongside an upcoming fall budget. Meanwhile, the federal government faces escalating cross-border trade tensions and tariff disputes with the United States administration under President Donald Trump after trade talks stalled.

MPs are heading back to Parliament Hill. Here's what to watch this sitting

Source: CBC Politics
Date: 2026-09-20 08:00:00.0
Tags: [National, Economy, Taxation, Trade, Labour, Governance]

As Parliament returns for the fall 2026 sitting, Prime Minister Mark Carney's majority government faces a legislative agenda focused on economic growth, upcoming federal budget measures, and trade developments involving the United States and the European Union. Key legislative items include the Building Canada Strong Act to streamline major project reviews, Bill C-31 implementing 2025 budget provisions, tax policy initiatives including a productivity mega-deduction, and amendments to the Labour Code affecting the Canada Industrial Relations Board regarding high-risk work stoppages in export industries. The Liberals hold 173 seats in the House of Commons alongside six vacant seats, while managing ongoing trade fallout with the U.S. administration and proposed closer economic alliances with the European Union.

CRA still owed over $5B in COVID-19 benefits sent to ineligible recipients

Source: CBC Politics
Date: 2026-09-18 19:50:00.0
Tags: [National, Taxation, Finance, Economy, Social Services]

The Canada Revenue Agency (CRA) reported that as of July 31, Canadians still owe $5.56 billion in outstanding debt for COVID-19 pandemic benefits—specifically under the Canada Emergency Response Benefit (CERB) and Canada Recovery Benefit (CRB)—after being deemed ineligible. The total debt has nearly halved from over $10 billion reported the previous November, with approximately $3.671 billion successfully recovered since collections began in 2022. The remaining balance includes $2.91 billion for CERB and $1.81 billion for CRB, though figures continue to fluctuate due to ongoing repayments, reassessed eligibility, and write-offs for permanent financial hardship recommended to Employment and Social Development Canada (ESDC). The CRA maintains a flexible collection approach with extended timelines and interest-free repayment arrangements, while retaining the right to pursue legal action against debtors with the verified ability to pay.