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Federal Budget 2025 introduced a new set of dividend suspension rules that restricts a corporation’s ability to recover refundable dividend tax on hand (RDTOH).
Bill C-31 was tabled and completed first reading on May 6, 2026. It implements a range of business tax changes, enhanced rules, and new reporting requirements.
Businesses may soon immediately write off costs for certain manufacturing or processing buildings, including additions or renovations, if conditions are met.
Draft legislation effective Jan 29, 2026 expands NPO filing with CRA; smaller NPOs will file a new short-form return.
Amendments to the Select Luxury Items Tax Act were enacted on March 26, 2026 that remove the luxury tax on aircraft and vessels, effective November 5, 2025.
Property owners with vacant homes in Canada should be aware of the new underused housing tax (UHT), which came into effect on January 1, 2022.
In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.
Bill C‑15 became law March 26, 2026, implementing tax measures from Budget 2025, Budget 2024, and FES 2024 affecting businesses and trusts.