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ARTICLE · 13 NOVEMBER 2025

2025 Federal Budget: Selected Tax Measures

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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On November 4, 2025 (Budget Day), the Government of Canada released its 2025 federal budget (Budget 2025), which proposes to introduce a number of noteworthy tax measures, including...

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Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On November 4, 2025 (Budget Day), the Government of Canada released its 2025 federal budget (Budget 2025), which proposes to introduce a number of noteworthy tax measures, including:

  • Updated proposals for an overhaul of Canada's transfer pricing rules
  • Temporary immediate expensing of the cost of manufacturing and processing buildings
  • Several important proposals regarding energy, resource taxation and the clean economy
  • Simplification and streamlining of the qualified investment rules for registered plans
  • Deferral of two new reporting regimes, rules for non-profit organizations and for crypto assets, to taxation years beginning on or after January 1, 2027
  • Confirmation that bare trusts are intended to be required to comply with the beneficial ownership regime, after several deferrals, starting in taxation years ending after December 31, 2026

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