Budget Highlights & Other Announcements
*** PLEASE NOTE *** The April 2025 budget information and all other 2025 tax changes will be updated in January 2026
April 16, 2024 Federal Budget Highlights
See below for some of the main tax announcements. The entire 2024 federal budget can be read by clicking here.
New Canada Carbon Rebate For Small Businesses
Home Buyers Plan Increased Withdrawal Limit
New Canadian Entrepreneurs’ Incentive
Increased Tax Credits For Volunteer Firefighters And Search And Rescue
Tax Brackets & Tax Rates - to view the 2024 (and previous years) federal and provincial tax brackets please click here.
March 26, 2024 Ontario Budget Highlights
The budget does not change Ontario personal income tax rates.
March 28, 2023 Federal Budget Highlights
See below for some of the main tax announcements. The entire 2023 federal budget can be read by clicking here.
First Home Savings Account (FHSA)
March 23, 2023 Ontario Budget Highlights
The budget does not change Ontario personal income tax rates.
April 7, 2022 Federal Budget Highlights
See below for some of the main tax announcements. The entire 2022 federal budget can be read by clicking here.
First-Time Home Buyers’ Tax Credit
Multigenerational Home Renovation Tax Credit
Home Accessibility Tax Credit (HATC)
April 28, 2022 Ontario Budget Highlights
Ontario Seniors Care At Home Tax Credit - a new refundable Ontario Seniors Care at Home Tax Credit was introduced to assist seniors living at home. The credit is calculated on eligible expenses for seniors who still live at home and receive home care from a nurse, attendant or other medical services. Click here for more details.
December 3, 2021 Climate Action Incentive Payments (CAIP)
Prior to 2021, the Climate Action Incentive was a refundable tax credit claimed annually on personal income tax returns. The CAIP will now be paid as a quarterly benefit. If you are entitled, you will automatically receive your CAIP four times a year, starting in July 2022. Click here for more details.
Due to COVID-19 the 2020 Federal & Ontario Budgets have been delayed
March 19, 2019 Federal Budget Highlights
Home Buyers’ Plan (HBP) - Budget 2019 proposes to increase the amount that first-time home buyers can withdraw from their Registered Retirement Savings Plans to buy or build a new home to up to $35,000 (from $25,000) under the HBP. Eligibility for the HBP is being extended to help Canadians maintain home ownership after marital or common-law relationship breakdowns. Click here for more details.
April 11, 2019 Ontario Budget Highlights
The budget does not change Ontario personal income tax rates.