• 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.

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• 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.

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• 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.

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• 'Cool to be Canadian': Leaders optimistic their pitch to invest here will pay off

  Source: CBC Politics
  Date: 2026-09-14 19:59:47.0
  Tags: [National, Ontario, Economy, Taxation, Finance, Trade, Industry, Mining]

  Prime Minister Mark Carney hosted the Canada Investment Summit in Toronto to attract foreign capital and secure $1 trillion in investments amidst trade friction with the United States. Minister of Finance François-Philippe Champagne announced that the Canadian Revenue Agency will prioritize advanced income tax rulings for investments exceeding $1 billion to reduce regulatory risk. The government's 66-page pitchbook featured more than 160 major projects, including Canada Nickel Company's Crawford nickel project, which is seeking $2 billion in funding.

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