Rishabh Kumar, CFA, RFRA - IG Wealth Management

Today we pause to reflect and honour the veterans and active service members who have served, and continue to serve, our country. Thank you to all who have made sacrifices for Canada’s peace, freedom and safety.

Here are the highlights from the 2025 federal budget and how it could impact you:

• Personal Tax: First marginal rate reduced to 14.5% (2025) and 14% (2026+); new top-up credit preserves value of non-refundable credits.

• Disability Support: One-time $150 supplement for Disability Tax Credit certifications.

• Home Renovations: No double-claiming for Home Accessibility and Medical Expense Tax Credits (from 2026).

• Registered Plans: RDSPs gain access to small business investments; harmonization of qualified investment rules (from 2027).

• Automatic Tax Filing: CRA to auto-file returns for low-income individuals (starting 2025).

• Support Worker Credit: Refundable 5% tax credit (up to $1,100/year) for eligible personal support workers (2026–2030).

• Trusts: Anti-avoidance rules expanded to indirect transfers (21-year rule).

• Housing & Luxury Taxes: UHT and luxury tax on aircraft/vessels eliminated (from 2025).

• Business Incentives: Immediate expensing for manufacturing buildings; limits on Part IV tax deferrals.

• Cancelled Measures: Canadian Entrepreneurs’ Incentive withdrawn.

📩 Wondering how this impacts you or your business? Reach out for tailored advice and planning strategies.
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Happy Thanksgiving! Wishing Canadians across the country a relaxing long weekend spent with loved ones, celebrating and reflecting on what we have to be thankful for.

September 30 is Orange Shirt Day and National Day for Truth and Reconciliation. We encourage all Canadians to wear orange in honour of the children who never returned home and the Survivors of residential schools, as well as take time to acknowledge and raise awareness of the profoundly tragic legacy of residential schools.

This year also marks 10 years since the Truth and Reconciliation Commission’s Final Report—a reminder of the progress made and the continued need for action. Through our Reconciliation Action Plan, we remain committed to listening, learning and advancing reconciliation in partnership with Indigenous communities.