Canada: British Columbia to raise speculation and vacancy tax rates in 2026
The speculation and vacancy tax rates will increase for foreign owners from 2% to 3% and for Canadian residents from 0.5% to 1% from 2026. The Government of British Columbia announced on 12 June 2025 that speculation and vacancy tax rates will
See MoreUS, Canada agrees to finalise trade deal within 30 days
The US and Canada agreed to finalise a trade deal within 30 days to resolve issues caused by tariffs and countermeasures. The US President Donald Trump and Canada's Prime Minister Mark Carney agreed this week to finalise a trade deal within 30
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J5 Australia, Canada, Netherlands, UK, and US publish report on fintech use in tax evasion and money laundering
The J5 group—Australia, Canada, Netherlands, UK, and US—has released a report examining how fintech is used to facilitate tax evasion and money laundering. The Joint Chiefs of Global Tax Enforcement (J5) released three reports today –
See MoreCanada extends tariff exemptions on Ukraine imports for one year
Canada has extended its tariff-free policy for Ukrainian imports for another year, keeping Ukrainian goods free from customs duties until 9 June 2026. Canada’s Department of Finance announced on 6 June 2025 that it will continue to support
See MoreCanada: Government proposes GST rebate for first-time home buyers, repeal of consumer carbon price, middle-class tax cuts
Canada’s Finance Minister proposed the measures on 27 May 2025. Canada’s Finance Minister, François-Philippe Champagne, has tabled a notice of Ways and Means Motion in Parliament on 27 May 2025, proposing GST relief for first-time
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Canada: Carney to announce 2025-26 federal budget in autumn
Canada’s Prime Minister Mark Carney said on 18 May 2025 that the federal government will present a budget this autumn. This follows Finance Minister François-Philippe Champagne's announcement on 14 May 2025 that the government won’t table a
See MoreCanada: Ontario unveils 2025 budget, proposes increased tax credit for corporations
Minister of Finance Peter Bethlenfalvy, of the Canadian province of Ontario, presented the 2025 Ontario Budget: A Plan to Protect Ontario on 15 May 2025. It confirms no new changes to corporate or personal income tax rates. However, qualifying
See MoreCanada: Alberta halts industrial carbon pricing at the current rate
The Canadian Province of Alberta announced on 12 May 2025 that it is freezing the industrial carbon price at the current rate of CAD 95 per tonne of emissions. The announcement was made by Alberta’s Premier, Danielle Smith. Previously, the
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US: Trump warns Canada auto tariff could rise above 25%
The US 25% tariffs imposed on cars imported from Canada could be further increased, said President Donald Trump yesterday, 23 April 2025. "When I put tariffs on Canada - they're paying 25% - but that could go up, in terms of cars. All we're doing
See MoreCanada: PM Carney promises tax cuts in election bid
Canadian Prime Minister Mark Carney has pledged tax cuts, infrastructure spending, and defence investments during an election campaign platform on Saturday, 20 April 2025. Carney highlighted that his government is working towards policies to
See MoreCanada introduces relief for businesses hit by US tariffs
Canada’s Department of Finance has unveiled new support measures on 15 April 2025 aimed at assisting Canadian businesses impacted by tariffs imposed by both the US and Canada. The measures were announced by Minister of Finance, François-Philippe
See MoreCanada: Prince Edward Island announces 2025-26 budget, includes corporate tax cuts
The Canadian province of Prince Edward Island presented the 2025-26 Operating Budget to the legislative assembly on 10 April 2025. The province’s 2025-26 budget includes CAD 294.6 million in new spending, bringing total expenditure to over CAD
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Canada imposes 10% tax on foreign homebuyers in Toronto
The City of Toronto will introduce a 10% tax on residential property purchases by foreign buyers, including individuals and corporations, not residing in Canada, effective 1 January 2025. This newly introduced tax falls under the Municipal
See MoreCanada: Newfoundland and Labrador announces 2025 budget, introduces no changes to tax rates
Canada province Newfoundland and Labrador finance minister Siobhan Coady has presented the province’s 2025 budget on 9 April 2025. The minister mentioned the province’s deficit has decreased from CAD 1.5 billion in 2020-21 to CAD 372 million
See MoreCanada: Countermeasures against auto imports from the US enters into force
Canada’s finance minister François-Philippe Champagne confirmed on 8 April 2025 that Canada’s new countermeasures, announced on 2 April 2025, in response to the unjustified tariffs imposed by the US on the Canadian auto industry came into force
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Canada: Northwest Territories abolishes consumer carbon taxÂ
The Government of the Northwest Territories (GNWT) will remove the Northwest Territories' carbon tax for all consumers except large emitters on 1 April 2025. The GNWT has taken this step to align with the Government of Canada’s carbon pricing
See MoreCanada: Quebec announces tax measures in 2025-26 budget
The Canadian province Quebec's finance minister, Eric Girard, delivered the province’s 2025-26 budget on 25 March 2025. The minister unveiled a budget projecting a CAD 13.6 billion deficit, with CAD 2.2 billion allocated for debt repayment and
See MoreCanada announces new countermeasures to US tariffs
Canada’s Government has published a statement on 3 April 2025 outlining new countermeasures in response to the tariffs introduced by the US President Donald Trump on 2 April 2025. The statement claims that the United States administration
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