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As Canadian businesses confront a challenging trade environment, they must embrace strategies that provide resilience in the face of uncertainty.
What are the EIFEL rules and how will they affect Canadian businesses?
On July 4, 2025, U.S. President Donald Trump signed the “One, Big, Beautiful Bill” into law, enacting the largest tax cuts in American history.
Canada to rescind its digital services tax (DST) and the CRA advised businesses aren’t required to file a DST return or pay any DST owing at this time.
Despite Parliament being prorogued and subsequently dissolved, the CRA has confirmed that it will continue to administer the proposed increase to the lifetime capital gains exemption to $1.25 million retroactively, effective June 25, 2024.
Canadian businesses are monitoring potential effects of US tax policies on cross-border trade, the Canadian economy etc. under Donald Trump's administration.
The government has provided more details on the proposed changes to the capitals gains inclusion rate, which were first announced in the 2024 federal budget.
FES 2024 announces a deficit of $61.9 billion and projects a deficit of $48.3 billion in 2024-2025 in the baseline projection. This is compared to a deficit of $39.8 billion projected for the same period in Budget 2024.