RLB Blog

On March 26, 2026, the Ontario Government tabled its 2026 provincial budget. While the budget covers several significant initiatives, there are a few key highlights we have summarized for what you need to know and, importantly, what actions may be worth considering before key deadlines arrive.

After nearly a year of delays, Bill C-4, the Making Life More Affordable for Canadians Act, is now law. This legislation, specifically designed to increase housing supply, was held up long enough to have the opposite effect, with qualified buyers staying out of the market and builders managing stalled pipelines and uncertain demand. That changes now! With Royal Assent granted on March 12, 2026, builders need to move quickly to understand their obligations under the enhanced First-Time Home Buyer (FTHB) GST Rebate and update their processes accordingly. 

After months of legislative delays, Bill C-4, the Making Life More Affordable for Canadians Act, officially received Royal Assent on March 12th, 2026. The legislation removes or reduces the GST on qualifying new home purchases by eligible buyers, saving up to $50,000. Ontario noted in their 2025 Fall Economic Statement that they would follow suit and remove the provincial portion of HST for first time buyers on homes up to $1,000,000, but we do not have an official statement or legislation from Ontario since the March 12th Federal announcement at the time of writing this article. 

Canada Revenue Agency (CRA) has announced an important change to the GST/HST treatment of mutual fund trailing commissions, effective July 1, 2026. This shift will primarily impact investment dealers, advisors, and fund managers and will require operational and compliance updates across the industry.

The November 4, 2025 federal Canadian budget sets the course for the nation’s economic and social trajectory in the coming years, with significant spending and investment measures proposed but operating expenditure cuts projected to generate $60 billion in savings over the next 5 years. Although not a major focus, there are several key tax measures (outlined below) which are proposed as part of the 2025 Budget.

Minimum wage rates in Ontario will increase to $17.60 per hour on October 1st 2025. This increase is tied to the Ontario Consumer Price Index for 2025.

What is CARM CCP? CARM stands for CBSA Assessment and Revenue Management. CCP stands for CARM Client Portal.

On July 1, 2025, the U.S. Senate passed an amended version of the Republican tax bill known as “The One Big Beautiful Bill.”  While the final details are still being finalized, we want to share a summary of the key provisions that may be relevant to our clients, especially those with U.S. tax exposure or cross-border interests. 

As part of the 2024 Federal Budget the Government of Canada proposed to increase the capital gains inclusion rate (“CGIR”) from 50% to 66.67%, effective June 25, 2024. The CGIR determines the portion of a capital gain that is subject to tax in Canada. The proposed increase was expected to result in higher taxable income for many Canadians.

On April 1, 2025, the rate of GST/HST in Nova Scotia will be reduced from 15% to 14%.