Ontario’s fall economic statement keeps corporate and personal income taxes unchanged while boosting economic growth through measures such as an enhanced Ontario Made Manufacturing Investment Tax Credit, HST relief for first-time home buyers, a future online beneficial ownership registry, and permanent reductions in gasoline and diesel taxes.

Ontario’s Finance Minister released the 2025 Fall Economic Statement, also known as the “2025 Ontario Economic Outlook and Fiscal Review,” on 6 November 2025. It maintains corporate tax and personal income tax unchanged while introducing several direct and indirect measures.

A key part in making Ontario’s economy stronger and more resilient is raising its economic potential in ways that help each worker in Ontario produce more and better products, leading to improved living standards and well-being through higher paycheques, lower prices, and enhanced competitiveness.

To help companies invest in technology, attract high-quality jobs, scale up operations, and drive innovation, the province offers a range of programs, including the Ontario Made Manufacturing Investment Tax Credit (OMMITC) and the Invest Ontario Fund.

Business tax measures

Implementing the Ontario Made Manufacturing Investment Tax Credit (OMMITC)

One key measure is implementing the Ontario Made Manufacturing Investment Tax Credit, including proposing to temporarily enhance and expand it, to support manufacturing or processing investments in the province.

The Ontario Made Manufacturing Investment Tax Credit (OMMITC) provides support to qualifying Canadian-controlled private corporations (CCPCs) that make eligible investments in buildings, machinery, and equipment for use in manufacturing or processing in the province.

In the 2025 Budget, the government proposed to temporarily increase the OMMITC rate from 10% to 15% for CCPCs and expand the OMMITC by providing access to a 15% non-refundable version of the credit to corporations that are not CCPCs.

Sales tax and excise measures

HST relief for first-time home buyers on new homes 

Ontario will offer a rebate covering the full 8% provincial HST on new homes up to CAD 1 million for first-time buyers, and combined with a proposed federal rebate, first-time buyers could avoid the full 13% HST on qualifying homes, including substantially renovated ones, for agreements signed on or after 27 May 2025.

Other notable measures

Introduction of online beneficial ownership registry 

Ontario’s government plans to introduce an online beneficial ownership registry for privately held businesses in 2027, requiring them to submit ownership information online, which law enforcement, tax authorities, and regulators can access directly. This replaces the current system, where authorities must request the information from corporations.

Permanently reducing gasoline tax and fuel tax rates

To provide ongoing relief to households and businesses in Ontario, the government has permanently reduced the gasoline tax rate by 5.7 cents per litre and the fuel tax rate (for diesel) by 5.3 cents per litre.

Delivering the CAD 200 Ontario taxpayer rebate

Last year, in the 2024 Ontario Economic Outlook and Fiscal Review, the government announced that it would provide a CAD 200 taxpayer rebate to each eligible adult and CAD 200 for each eligible child under 18. The government has provided approximately CAD 3 billion in timely support to nearly 15 million eligible individuals in Ontario.

Increasing the minimum wage for workers

As of 1 October 2025, Ontario’s government increased the province’s minimum wage from CAD 17.20 to CAD 17.60 per hour, benefiting over 800,000 workers.