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ARTICLE · 10 NOVEMBER 2025

Canada Federal Budget 2025

On November 4, 2025, the federal government introduced Canada Strong: Budget 2025 ("Budget 2025"), the first tabled by the Liberals under Prime Minister Mark Carney's leadership.

CanadaTax

On November 4, 2025, the federal government introduced Canada Strong: Budget 2025 ("Budget 2025"), the first tabled by the Liberals under Prime Minister Mark Carney's leadership. In response to ongoing economic pressures, including tariffs, Budget 2025 vows to reduce operational spending, increase investments in workers, businesses and infrastructure, strengthen the domestic economy and support long-terms growth. Budget 2025 includes tax measures to promote investment in manufacturing, clean energy and research and development and to improve efficiency in Canada's tax system.

Some of Budget 2025's significant tax measures include:

  • introducing temporary immediate expensing for eligible manufacturing and processing buildings, allowing 100% first-year deduction for property used before 2030 (to be gradually phased out by 2033);

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