ARTICLE · 10 NOVEMBER 2025

Canada's Budget Modernization Will Cause Headaches For Tax Pros

Davies Ward Phillips & Vineberg LLP

Explore more from Davies Ward Phillips & Vineberg LLP

Ian Caines, Sabina Han and Michael Kandev have written an article for Bloomberg Tax on the implications of the new federal budget process for Canadian tax professionals

CanadaTax

Ian Caines

Sabina Han

Michael Kandev

Author LinkedIn connections

Davies partners weigh in on new process

Ian Caines, Sabina Han and Michael Kandev have written an article for Bloomberg Tax on the implications of the new federal budget process for Canadian tax professionals. Among other things, moving the budget date risks creating operational headaches for the tax community, finalized legislation likely won't be available for year-end compliance decisions and the budget would hit during the busiest times for tax professionals.

Read the full article on the Bloomberg Tax website.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Imposition : Faire des affaires au Canada 2026

McCarthy Tétrault

Productivity Mega Deduction

From Super To Mega: Canada Proposes New "Productivity Mega Deduction" To Spur Investment

Bennett Jones LLP

Canada Announces Productivity Mega Deduction

Blake, Cassels & Graydon LLP

CRA Releases Updated CRS Guidance: CRS 2.0 And Other Matters

Borden Ladner Gervais LLP

Read more about

Tax
- Tax Authorities

Related Comparative Guides

Comparative Guide

Tax

Comparative Guide

Tax Disputes

See more popular content from

TaxDavies Ward Phillips & Vineberg LLP

Understanding Canada’s new "Productivity Mega Deduction": Broad-based, immediate, and permanent expensing

Canada's new Productivity Mega Deduction promises to slash the marginal effective tax rate on business investment to just 6.4%, positioning the country as the most competitive G7 nation for capital deployment. This permanent tax incentive extends immediate expensing to roughly 65% of capital assets, fundamentally reshaping the economics of investing in Canadian operations across manufacturing, energy, technology, and resource sectors.

CRA Releases Updated CRS Guidance: CRS 2.0 And Other Matters

On July 2, 2026, the Canada Revenue Agency (CRA) published its updated Guidance on the Common Reporting Standard (Updated CRS Guidance).

Borden Ladner Gervais LLP

Tax Changes Expected Under The New Liberal Government

Whenever there is a change in government, it is usually accompanied by changes to tax measures. This article will summarize the key tax initiatives we may see in the near future as a result of the new Liberal majority government in Canada.

Crowe Soberman LLP

The GST/HST New Housing Rebate: A Complete Guide To Eligibility, Amounts, And How To Avoid Case Law Traps

The GST/HST New Housing Rebate lets a purchaser recover part of the GST/HST paid on a newly built or substantially renovated home used as a primary residence.

Rotfleisch & Samulovitch P.C.

Tax Consequences Of A Salary Deferral Arrangement (SDA) In Canada: How It Works, Plus Exceptions

A salary deferral arrangement is an anti-avoidance rule in Canadian tax law, designed to prevent employees from deferring tax on income that has already been earned.

Rotfleisch & Samulovitch P.C.

The Do's And Don'ts Of Interest Deductibility

The deductibility of interest continues to be a frequent subject the tax courts.

Crowe Soberman LLP

Canada’s Productivity Mega Deduction: Big Name, Big Opportunities For Business Aviation

Canada's proposed Productivity Mega Deduction would allow businesses to immediately write off the full cost of newly acquired capital assets, including aircraft and flight simulators, rather than spreading deductions over multiple years. This permanent change to the capital cost allowance regime could significantly benefit the business aviation industry, though taxpayers must carefully consider timing, income requirements, and documentation to maximize the deduction's value.

Employees Beware: Upcoming Legislation Affecting Capital Gains Will Impact Employee Stock Options

Employee stock options are a benefit offered by companies to their employees, giving them the right to purchase company stock at a set price (known as the exercise or strike price) after a certain period of time.

Rotfleisch & Samulovitch P.C.

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.

Osler, Hoskin & Harcourt LLP

Canada Announces Productivity Mega Deduction

Canada's federal government has introduced the Productivity Mega Deduction, a groundbreaking tax measure offering immediate expensing for approximately two-thirds of capital asset investments. This initiative aims to reduce Canada's marginal effective tax rate on new business investments to 6.4%, positioning it as the most competitive among G7 nations. The measure extends to Canadian Development Expenses in the energy and mining sectors, potentially transforming the economics of major capital-intensive proj

Blake, Cassels & Graydon LLP

Top Takeaways From Harvey FORUM In New York

Tania Djerrahian recently participated in a panel at the Harvey FORUM, where the conversation centered on how AI is reshaping firm strategy, business models and what the future of legal looks like.

United StatesTechnology

Davies Ward Phillips & Vineberg LLP

Jordan Ceilings: Verdict Deliberation Time Not Included

On 20 March 2020, in R. v. K.G.K., the SCC clarified the question of whether the presumptive ceilings established in Jordan encompass the trial judge's verdict deliberation time.

CanadaCriminal Law

Davies Ward Phillips & Vineberg LLP

Department Of Finance Releases Revised Income Splitting Rules

Earlier this year, the Department of Finance released a set of far-reaching proposals affecting the taxation of private businesses and their shareholders.

Davies Ward Phillips & Vineberg LLP

There's An AMP For That: Competition Bureau Reaches Resolution With Bell Canada On Online Employee Reviews

On October 14, 2015, the Canadian Competition Bureau announced that it had reached a Consent Agreement with Bell Canada to resolve the Bureau's concerns regarding reviews posted by Bell employees...

CanadaAntitrust/Competition Law

Davies Ward Phillips & Vineberg LLP

Directors Who Defraud: Court Of Appeal For Ontario Confirms Standalone Personal Liability For Civil Fraud

In a recent decision, the Court of Appeal for Ontario confirmed that the civil fraud of a corporate director or officer can lead to personal liability, even without having to pierce the corporate veil...

CanadaCorporate/Commercial Law

Davies Ward Phillips & Vineberg LLP

Federal Acceleration Of Infrastructure Approvals

The federal government has introduced ambitious proposals to streamline infrastructure project approvals, building on last year's Building Canada Act. These reforms aim to reduce federal decision timelines to one year and consolidate Indigenous consultations through a new Crown Consultation Hub. The proposals include creating Federal Economic Zones that would exempt certain projects from individual impact assessments and granting Cabinet new authorities to expedite major infrastructure development.

CanadaEnvironment

Davies Ward Phillips & Vineberg LLP

Québec Court Of Appeal Endorses Pro-Arbitration Approach

Davies Ward Phillips & Vineberg LLP showcases its litigation and corporate law expertise through key legal professionals based in Toronto and Montréal. The firm highlights partner-level contacts specializing in complex legal matters, providing direct access to experienced counsel across multiple practice areas.

CanadaCorporate/Commercial Law

Davies Ward Phillips & Vineberg LLP

Persons Of Interest: Alberta Court Of Appeal Widens The CCAA Gateway For Equity Investors

In a decision with significant implications for insolvency practice, the Court of Appeal of Alberta held that equity investors could commence proceedings under Section 11 of the Companies’ Creditors Arrangement Act...

CanadaInsolvency/Bankruptcy/Re-Structuring

Davies Ward Phillips & Vineberg LLP

In Defence Of Transactional Common Interest Privilege

There can be no doubt that transactional common interest privilege will be subject to continued discussion and analysis by Canadian courts in the years to come.

CanadaLitigation, Mediation & Arbitration

Davies Ward Phillips & Vineberg LLP

OPA To Amend FIT 2.0 Rules And Move Forward With Small FIT Application Window

On November 23, 2012, the Minister of Energy issued a directive to the Ontario Power Authority (OPA) based on recommendations from a working group established to provide advice on ground-mounted solar PV projects on rural lands with multiple primary uses or abutting residential uses.

CanadaEnergy and Natural Resources

Davies Ward Phillips & Vineberg LLP