Canada scraps proposed capital gains tax inclusion rate hike
Canada's Prime Minister announced that the government will scrap the proposed increase in the capital gains inclusion rate on 21 March 2025. "Canada is a country of builders. Cancelling the hike in capital gains tax will catalyze investment
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Canada: Manitoba announces 2025 budget, features contingency plan to address potential impact of US tariffs
Canada’s provincial state of Manitoba’s Minister of Finance, Adrien Sala, announced the 2025 provincial budget for Manitoba on 20 March 2025, features a contingency fiscal plan to address the potential impact of widespread US tariffs on Canadian
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Canada announces 2025 budgets for New Brunswick, Saskatchewan
Canada’s provincial states New Brunswick and Saskatchewan have announced their budgets for 2025. New Brunswick 2025-16 budget Finance Minister René Legacy presented the provincial 2025-26 budget for New Brunswick on 18 March 2025. It
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Canada: Prime Minister Mark Carney abolishes consumer carbon tax
Canadian Prime Minister Mark Carney has abolished the consumer carbon tax effective from 1 April 2025. The change, enacted through Orders in Council (OICs) 2025-0446 and 2025-0447, removes the Canada fuel charge, introduced by former Prime Minister
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Canada: Ontario suspends 25% power surcharge following Trump’s tariff threat
Canadian province Ontario has suspended its 25% surcharge on electricity exports to the US after talks between US Commerce Secretary Howard Lutnick and Ontario Premier Doug Ford. The talks followed after President Donald Trump announced to raise
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Canada, Uruguay to negotiate updated investment agreement
Canada and Uruguay have agreed to begin negotiations on updating their Foreign Investment Promotion and Protection Agreement (FIPA), originally signed in 1999. The revised agreement aims to strengthen trade and investment ties between the two
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Canada extends mineral tax credit to March 2027
Canada's Ministry of Finance and Intergovernmental Affairs issued a release on 3 March 2025 proposing to extend the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional two years, until 31 March 2027. The
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US: Trump orders lumber import probe and boost domestic production, raising concerns on potential tariffs
US President Donald Trump has issued two executive orders concerning the timber industry on 1 March 2025. The first executive order aims to boost domestic production, and the second investigates the impact of imported timber on US security and
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Canada retaliates against US tariffs with multi-level countermeasures
Canada’s federal government has announced a detailed tariff package, which includes a comprehensive list of US products that will now face a 25% tariff, effective 4 March 2025, in response to the recent US tariffs on imports of Canadian
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Canada: British Columbia 2025 budget proposes real estate tax and film industry changes
The Canadian province of British Columbia unveiled its 2025 budget on 4 March 2025. The 2025 budget has no changes to corporate or personal tax rates. However, it proposes the following tax measures: Increase in the speculation and vacancy tax
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US: Trump halts tariffs on USMCA products
US President Donald Trump signed executive orders halting the recently imposed tariffs on imports from Canada and Mexico covered under the United States-Mexico-Canada Agreement (USMCA) yesterday, on 6 March 2025. The USMCA allows goods to move
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US: Trump exempts automakers from Mexican, Canadian tariffs for a month
According to the White House, on 5 March 2025, US President Donald Trump has decided to exempt automakers from his 25% tariffs on Canada and Mexico for one month if they follow existing free trade rules. Following discussions with the three
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Canada retaliates with 25% tariffs on US products
In a retaliatory move, Canada’s Prime Minister Justin Trudeau, in a statement and a post on X, announced that Canada will implement 25% tariffs on CAD 155 billion of American products. This follows after US President Donald Trump’s new 25%
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Canada: Nunavut presents 2025-26 budget, no income or corporate tax hike
Canadian province, Nunavut’s Finance Minister Lorne Kusugak delivered the province’s 2025-26 budget on 24 February 2025. The key aspect of the 2025-26 budget is it includes no increases to corporate or income taxes. However, the federal
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Canada: Alberta presents tax measures for 2025 budget
Alberta’s Finance Minister Nate Horner has presented the province’s budget for 2025 on 27 February 2025. Alberta is facing its first deficit since 2020-21, with no clear plan yet to return to a surplus. The province anticipates a CAD 5.2
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Canada consults on EV supply chain investment tax credit
Canada's Department of Finance has announced a consultation on draft legislative proposals on 21 February 2025 to implement Budget 2024's Electric Vehicle Supply Chain Investment Tax Credit (EVSC-ITC). Canada’s 2024 Budget announced a
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Canada: Nova Scotia announces 2025-26 budget
Nova Scotia's Minister of Finance and Treasury Board, John Lohr, presented the province's fiscal budget for 2025-26 on 18 February 2025. The government’s Capital Plan 2025-26 will invest more than CAD 2.35 billion in healthcare facilities,
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Canada: Northwest Territories announce 2025-26 budget, carbon tax increased, income tax unchanged
Finance Minister Caroline Wawzonek has presented the Government of the Northwest Territories (GNWT) 2025-26 budget to the 20th Legislative Assembly on 6 February. Budget 2025‑2026 forecasts revenues of CAD 2.7 billion and allocates CAD 2.5
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