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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, replacing the current frameworks under Circular IC00-1R6[3] and Memorandum 16-5[4] […]
Canada Federal Legislative Amendments 2025
September 23, 2025Overview 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 the 2024 Federal Budget, the 2024 Fall Economic Statement (“FES”), […]
Saskatchewan Provincial Budget Tax Updates 2025
April 22, 2025Overview On March 19th, 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 budget introduces no change to the personal income tax rates. […]
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 significant shift from the originally expected $40.8 million surplus. Personal […]