An Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025
Short title: Budget 2025 Implementation Act, No. 1
Sponsor: François-Philippe Champagne, Minister of Finance and National Revenue (Saint-Maurice—Champlain)
Proposed changes
On 18 November 2025, the Minister of Finance and National Revenue introduced Bill C-15, An Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025 (Budget 2025 Implementation Act, No. 1) in the House of Commons and it was given first reading.
Bill C-15 Part 1 implements certain measures in respect of the Income Tax Act and the Income Tax Regulations by
- expanding the rollover for small business corporation shares;
- expanding the list of expenses recognized under the Disability Supports Deduction;
- exempting the Canada Disability Benefit from income;
- aligning the taxation of investment income and active business income earned and distributed by controlled foreign affiliates with the rules that currently apply to Canadian-controlled private corporations;
- extending the deadline for making certain charitable donations eligible for tax support in the 2024 tax year;
- increasing the limit under the Lifetime Capital Gains Exemption so that it applies on up to $1.25 million of eligible capital gains, applicable to dispositions that occur on or after June 25, 2024, with indexation of the limit to resume in 2026;
- exempting the first $10 million in capital gains on the sale of a business to a worker cooperative and amending the corresponding exemption for sales to an employee ownership trust;
- removing the tax-indifferent investor exception to the synthetic equity arrangement anti-avoidance rule;
- improving the efficiency of the Home Accessibility Tax Credit;
- implementing the Personal Support Workers Tax Credit;
- enhancing the SR&ED program by increasing the annual expenditure limit and taxable capital phase-out thresholds for the enhanced 35% SR&ED credit, extending the enhanced credit to eligible Canadian public corporations and restoring the eligibility of SR&ED capital expenditures;
- extending the Mineral Exploration Tax Credit for individuals who invest in eligible mining flow-through shares for two years to March 31, 2027 at the current rate of 15%;
- expanding the eligibility of the Critical Mineral Exploration Tax Credit to bismuth, cesium, chromium, fluorspar, germanium, indium, manganese, molybdenum, niobium, tantalum, tin and tungsten;
- amending the Canada Carbon Rebate for Small Businesses;
- extending the full credit rates for the Carbon Capture, Utilization and Storage investment tax credit to 2035;
- expanding the eligibility for the clean technology investment tax credit to support the generation of electricity and heat from waste biomass;
- expanding the eligibility for the clean technology manufacturing investment tax credit to investments in eligible polymetallic projects and to additional qualifying materials;
- providing a refundable investment tax credit to qualifying corporations and trusts for investments in certain clean electricity property;
- amending the alternative minimum tax to exempt certain trusts for the benefit of Indigenous groups;
- precluding a corporation from qualifying as a mutual fund corporation where it is controlled by or for the benefit of a corporate group;
- extending the period during which agricultural cooperatives can distribute tax-deferred patronage dividends paid in shares to their members until the end of 2030;
- narrowing the rules related to reporting by trusts;
- providing the Minister of National Revenue with the authority to waive the withholding requirement for payments to certain non-resident service providers;
- allowing the sharing of information for the purposes of administering and enforcing the Canada Labour Code as it relates to the misclassification of employees;
- reforming Canada’s transfer pricing rules;
- reinstating the accelerated investment incentive and immediate expensing for certain qualifying assets;
(z.1) providing an accelerated capital cost allowance of 10% for new eligible purpose-built rental projects;
(z.2) providing immediate expensing for new additions of property in respect of productivity-enhancing assets;
(z.3) introducing a temporary non-refundable tax credit applicable where an individual’s non-refundable tax credit amounts exceed the first income tax bracket threshold; and
This is shortened to the first five points. The bill itself covers more.