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Update on Québec’s Economic and Financial Situation

Highlights of some of the fiscal measures announced on November 25, 2025 by the Ministère des Finances du Québec and published in Information Bulletin 2025-8, detailing fiscal measures announced in the Update on Québec’s Economic and Financial Situation. Table of contents Overview. Reduction of the Québec ...
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Newly proposed changes of significance to Canada Revenue Agency’s (“CRA”) Voluntary Disclosures Program (“VDP”) soon coming into effect

Overview On September 10, 2025, the CRA released a new version of its VDP Information Circular, IC00-1R7[1], along with the new GST/HST Memorandum 16-5-1[2] (collectively referred to as the “new Programs”). The updated policies will apply to disclosures received on or after October 1, 2025, ...
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Canada Federal Legislative Amendments 2025

Overview On August 15, 2025, the Department of Finance released a series of draft legislative proposals for public consultation. Canadians had until September 12, 2025, to make any submissions to the federal government. These proposals include tax measures which had either previously been announced through ...
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Saskatchewan Provincial Budget Tax Updates 2025

Overview On March 25th, 2025, the Saskatchewan government announced changes to its provincial tax laws in its budget 2025 Delivering for You. This comprehensive summary highlights the key changes that will influence the provincial tax environment in the coming years. Personal Income Tax Measures The ...
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New Brunswick Provincial Budget Tax Updates 2025

Overview On March 18, 2025, Minister of Finance René Legacy presented New Brunswick’s provincial budget for the 2025/26 fiscal year, with an anticipated deficit of $549 million. Additionally, the projected deficit for the nearly finished 2024/25 fiscal year has been revised to $398.9 million, a ...
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Newfoundland and Labrador Provincial Budget Tax Updates 2025

Overview On April 9, 2025, Newfoundland and labrador’s Finance Minister announces Budget 2025: Smarter. Stronger. Better. For the 2025–26 fiscal year, the province anticipates a $372 million deficit while projecting for 2026-2027 a $96 million surplus . Recent tariffs imposed on Canadian exports to the ...
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New reporting requirements for Digital Platform Operator

Reporting platform operators have an obligation to file an information return containing the required information relating to reportable sellers on or before January 31st of the year following the calendar year in which a seller is identified as a reportable seller. Such reported information also ...
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Navigating the Impact of the Proposed U.S. Tariffs on Canadian Businesses

Overview The ongoing trade tensions escalating between the U.S. and Canada are creating an atmosphere of economic uncertainty for Canadian businesses. Canada’s largest trading partner is the U.S., amounting for approximately 70% of its total exports. Canadian businesses most heavily reliant on cross-border trades with ...
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Canada to Remove Consumer Carbon Price Effective April 1, 2025

The Government of Canada has previously announced that, effective April 1, 2025, the federal fuel charge no longer applies, and provinces and territories are no longer required to implement a consumer-facing carbon price. Instead, the federal carbon pricing system now focuses on industrial emissions, maintaining ...
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Quebec Provincial Budget Tax Updates 2025-2026

Overview On March 25, 2025, the Quebec’s government has proposed new and changes to provincial tax measures as part of its 2025-2026 budget “For a Strong Québec”. This comprehensive summary highlights some of the key changes that will influence the Quebec tax environment in the ...
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The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.