Issue
Tax & Fiscal Policy
Federal taxation under the Income Tax Act, the Excise Tax Act (which contains the GST/HST), the Excise Act, 2001 (alcohol, tobacco, cannabis), and the Customs Tariff. Federal-provincial fiscal arrangements under the Federal-Provincial Fiscal Arrangements Act govern Equalization, the Canada Health Transfer, the Canada Social Transfer, and Territorial Formula Financing. Active 2024-2025 changes: the 2024 increase in the capital-gains inclusion rate from 50% to 66.67% on amounts over $250,000 (Bill C-69 of 44-1, S.C. 2024, c. 14) was rescinded by the Carney government in 2025 before its first full tax year; the 2024 Canadian Entrepreneurs' Incentive (lifetime inclusion-rate reduction for qualifying owners); the federal Digital Services Tax framework (Bill C-59 of 44-1); the 2% federal share-buyback tax on public corporations (Bill C-32 of 44-1). The 2026 federal budget tabled by Anita Anand (now Foreign Affairs) on a new Finance file is expected to set 2026-27 priorities.
Where parties stand
Compare side-by-side- Bloc QuébécoisBLOC
The Bloc Québécois has consistently pushed for a federal Web Giants Tax on digital platforms (Google, Meta, Amazon, Netflix) earning over $1 billion in Canadian revenue, full Quebec administration of its share of federal corporate income tax (Quebec already administers personal income tax for Quebec residents under a 1972 agreement), increased equalization-formula stabilization for Quebec, and elimination of the federal Lifelong Learning Plan double-counting that the Bloc says disadvantages Quebec students under the Aide financière aux études program.
Source - Conservative Party of CanadaCONSERVATIVE
The federal Conservative Party under Pierre Poilievre frames Liberal fiscal policy as inflationary, citing the federal debt growth to approximately $1.4 trillion by 2024-2025 per the Office of the Parliamentary Budget Officer. Calls for a binding Pay-as-You-Go statutory rule requiring federal program spending to be offset by spending cuts elsewhere or revenue increases (the previous Conservative government tabled such legislation in 2014 but it lapsed), capping deficit growth, reducing capital-gains-tax inclusion rate (the Liberal increase to 66.7 percent for gains over $250,000 was rescinded by Carney in 2025), and expanding the Tax-Free Home Savings Account contribution limits.
Source The federal Green Party calls for a one-percent annual wealth tax on net assets over $20 million (a Parliamentary Budget Officer 2024 analysis estimated approximately $7 billion in annual revenue), a 0.5-percent financial-transactions tax on stock and derivative trades (a Tobin tax), increasing the corporate-tax rate on profits over $500 million from 15 to 25 percent, closing the section 110 stock-option deduction loophole (50-percent deduction worth approximately $1 billion annually per Finance Canada data), and a five-percent windfall-profit tax on banks reporting over $1 billion in profit (RBC, TD, BMO, Scotiabank, CIBC).
Source- Liberal Party of CanadaLIBERAL
The federal Liberal Party under Mark Carney introduced the capital-gains-tax inclusion-rate increase to 66.7 percent for gains over $250,000 in the 2024 budget (rescinded by Carney in 2025 before implementation), maintained the federal corporate-tax rate at 15 percent and the small-business rate at 9 percent, increased the Canada Workers Benefit refundable tax credit, introduced the Underused Housing Tax (S.C. 2022, c. 5, sections 168 to 233) on non-citizen residential real estate, and committed to closing fossil-fuel subsidies (the federal government estimated $4.5 billion eliminated 2017-2023 through the WTO peer review process, plus 2023 Inefficient Fossil Fuel Subsidies framework).
Source The federal NDP under Jagmeet Singh calls for a wealth tax of 1 percent on net assets over $10 million (lower threshold than Green Party proposal of $20 million; PBO 2021 analysis of a 1 percent wealth tax estimated approximately $5 billion annual revenue), a corporate-profit tax of 15 percent on corporate profits over $500 million (an increase from the federal corporate-tax rate of 15 percent applying to all corporations), a windfall-profit tax on oil and gas, grocers, and banks reporting over $1 billion in profit, closure of the section 110 stock-option deduction loophole, and a financial-transactions tax (Tobin tax) on stock and derivative trades.
Source
Bills affecting this issue
- C-31Federal45-1First reading
A second Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025
Implements the remaining tax and spending measures from the 2025 federal budget.
- C-30Federal45-1Second reading
An Act to implement certain provisions of the spring economic update tabled in Parliament on April 28, 2026
Spring 2026 economic update implementation.
- Bill 37 (EPT)Provincial43rd Legislature of ManitobaSecond reading
Education Property Tax Reduction Act
Manitoba's Education Property Tax reduction. Saves homeowners several hundred dollars a year.
- S-217Federal45-1Second reading
An Act to amend the Canada Revenue Agency Act (reporting on unpaid income tax)
CRA tax-gap reporting (Senate).
- C-26Federal45-1First reading
An Act to authorize certain payments to be made out of the Consolidated Revenue Fund for the purpose of improving housing supply
CRF payment authorization (supply).
- C-23Federal45-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2026
Supplementary supply for fiscal year 2025-26.
- C-24Federal45-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2027
Interim supply for fiscal year 2026-27.
- C-15Federal45-1Royal assent
An Act to implement certain provisions of the budget tabled in Parliament on November 4, 2025
Budget Implementation Act based on the November 2025 budget.
- C-19Federal45-1Royal assent
An Act to amend the Income Tax Act
Income Tax Act amendments.
- C-17Federal45-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2026
Supply (granting CRF payments).
- C-11Federal45-1Third reading
An Act to amend the National Defence Act and other Acts
Implements core measures from the 2025 federal budget.
- C-7Federal45-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2026
Restores the rental-housing-construction tax credit and other budget measures.
- C-6Federal45-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2026
Supply (granting CRF payments).
- C-211Federal45-1First reading
An Act to amend the Income Tax Act and the Canada Pension Plan (deeming provision)
Adds a deeming provision aligning ITA and CPP timing rules.
- C-204Federal45-1First reading
An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer tax credit)
Increases the volunteer firefighter and search-and-rescue tax credit. Continuity with the 44th Parliament's C-310.
- C-79Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2025
Supply bill.
- C-75Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2025
Supply bill.
- C-74Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2025
Supply bill.
- C-69Federal44-1Royal assent
An Act to implement certain provisions of the budget tabled in Parliament on April 16, 2024
BIA 2024 No. 1: implements the April 2024 federal budget.
- C-59Federal44-1Royal assent
An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023
Implements the fall 2023 economic statement measures: GST off psychotherapy, expanded GST rental rebate, federal-budget housing initiatives.
- C-59-44Federal44-1Royal assent
Fall Economic Statement Implementation Act, 2023
FES 2023 Implementation Act (44-1 alt).
- C-410Federal44-1First reading
An Act to amend the Income Tax Act (campgrounds)
Lets family-run campgrounds with fewer than five employees claim the small-business deduction.
- S-258Federal44-1Second reading
An Act to amend the Canada Revenue Agency Act (reporting on unpaid income tax)
CRA tax-gap annual reporting.
- C-403Federal44-1First reading
An Act to amend the Income Tax Act and the Canada Pension Plan (deeming provision)
Deeming provision aligning ITA and CPP timing rules.
- S-264Federal44-1In committee
An Act to establish International Tax Justice and Cooperation Day
International Tax Justice and Cooperation Day.
- C-68Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2025
Supply bill.
- C-67Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2024
Supply bill.
- C-310-44Federal44-1Royal assent
Federal child volunteer tax credit Act (44-1)
Federal child volunteer tax credit (44-1 alt).
- C-60Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2024
Supply bill.
- C-358Federal44-1First reading
An Act to amend the Excise Tax Act (carbon pollution pricing)
Earlier version of C-396. Exempts the federal fuel charge from GST/HST.
- C-54Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2024
Supply bill.
- C-55Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2024
Supply bill.
- C-47Federal44-1Royal assent
An Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023
BIA 2023 No. 1: implements the March 2023 federal budget.
- C-47-44Federal44-1Royal assent
Budget Implementation Act, 2023, No. 1 (44-1)
BIA 2023 No. 1 (44-1 alt).
- C-241Federal44-1Third reading
An Act to amend the Income Tax Act (deduction of travel expenses for tradespersons)
Lets tradespersons and apprentices write off travel costs over 120 km from home for work.
- C-44Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2024
Supply bill.
- C-43Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2023
Supply bill.
- C-36Federal44-1Royal assent
An Act for granting to His Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2023
Supply bill.
- C-32Federal44-1Royal assent
An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 3, 2022 and certain provisions of the budget tabled in Parliament on April 7, 2022
Implements the fall 2022 economic statement measures including a 2 percent share buyback tax and refundable Canada Recovery Dividend on banks and insurers.
- C-310Federal44-1First reading
An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer tax credit)
Doubles the volunteer firefighter and search-and-rescue volunteer tax credits to $6,000 each.
- C-298Federal44-1First reading
An Act to amend the Income Tax Act (economic substance)
Adds an 'economic substance' test to deny tax benefits to transactions with no purpose other than tax savings.
- C-25Federal44-1Royal assent
An Act for granting to Her Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2023
Supply bill (early 44-1).
- C-24Federal44-1Royal assent
An Act for granting to Her Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2023
Supply bill (early 44-1).
- C-19Federal44-1Royal assent
An Act to implement certain provisions of the budget tabled in Parliament on April 7, 2022 and other measures
Implements key provisions from the 2022 federal budget: dental care for children, housing-accelerator fund, anti-flipping tax.
- C-8Federal44-1Royal assent
An Act to implement certain provisions of the economic and fiscal update tabled in Parliament on December 14, 2021 and other measures
BIA: implements December 2021 economic and fiscal update.
- C-266Federal44-1First reading
An Act to amend the Excise Act and the Excise Act, 2001 (adjusted duties - beer, malt liquor, spirits and wine)
Adjusts federal excise duties on alcohol.
- C-267Federal44-1First reading
An Act to amend the Excise Act (non-alcoholic beer)
Confirms federal beer excise does not apply to non-alcoholic beer.
- C-16Federal44-1Royal assent
An Act for granting to Her Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2023
Supply bill (early 44-1).
- C-15Federal44-1Royal assent
An Act for granting to Her Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2022
Supply bill (early 44-1).
- C-17Federal44-1First reading
An Act to amend the Federal-Provincial Fiscal Arrangements Act and to authorize certain payments to be made out of the Consolidated Revenue Fund
Government bill making targeted fiscal-arrangements amendments and authorizing CRF payments.
- C-240Federal44-1Second reading
An Act to amend the Income Tax Act (donations involving private corporation shares or real estate)
Charitable donation of private-corporation shares and real estate.
- C-6Federal44-1Royal assent
An Act for granting to Her Majesty certain sums of money for the federal public administration for the fiscal year ending March 31, 2022
Supply bill (early 44-1).
- C-222Federal44-1First reading
An Act to amend the Income Tax Act (travel expenses deduction for tradespersons)
Tradesperson travel expense deduction (PMB precursor to C-241).
- S-3Federal44-1First reading
An Act to amend the Judges Act
Routine government bill updating judicial salaries and allowances under the Judges Act.
- C-201Federal44-1First reading
An Act to amend the Income Tax Act (volunteer firefighting and search and rescue volunteer services)
Earlier PMB version of the volunteer firefighter / SAR tax credit increase that eventually passed as C-310.