Federal government to implement Budget 2025
Mar. 27, 2026
Global Korean Post
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The global landscape is rapidly changing, leaving economies, businesses, and workers under a cloud of uncertainty.
On Mar. 26, Department of Finance Canada announced Bill C-15, the Budget Implementation Act, 2025, No. 1, received Royal Assent.
By passing the Budget Implementation Act, the government of Canada will deliver on its plan to build one united economy, empower Canadians to get ahead, and protect our country and sovereignty.
As part of Bill C-15, the government will build a stronger economy to make life more affordable for Canadians by:
- Investing in Build Canada Homes to help double the pace of affordable home building over the next decade.
- Delivering the Clean Electricity investment tax credit (ITC) to accelerate the investments needed to expand our clean electricity grid and enhancing the suite of existing Clean Economy ITCs to further support investments in clean technologies, clean technology manufacturing, and carbon capture, utilization, and storage.
- Introducing a Productivity Super-Deduction – a set of enhanced tax incentives covering all new capital investment that allows businesses to write off a larger share of the cost of these investments right away.
- Accelerating the path to construction of Alto High-Speed Rail, Canada’s first high-speed railway, reaching 300 km/hour from Toronto to Québec City, to speed up travel within Canada’s most populated corridor.
- Supercharging investment in research and development by enhancing the incentives available through the Scientific Research and Experimental Development program and introducing measures in Budget 2025 to simplify the administration of the SR&ED program and cut in half the processing period for claims.
- Introducing a temporary Personal Support Workers Tax Credit to provide support of up to $1,100 per year to eligible personal support workers.
- Helping provide meals for up to 400,000 Canadian kids annually by establishing long-term, stable funding through the National School Food Program Act.
Edited by Global Korean Post
