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Tax Alert 2025 No. 54, 26 November 2025
On 18 November 2025, Bill C-15, Budget 2025 Implementation Act, No. 1, received first reading in the House of Commons.
Bill C-15 includes certain income tax measures announced in the 2025 federal budget and the 2024 federal fall economic statement; various other previously announced tax measures included in draft legislation on 15 August 2025, 30 June 2025, 23 January 2025, 12 August 2024 and 9 August 2022; the previously announced increase in the lifetime capital gains exemption and extension of the mineral exploration tax credit; and some new amendments. Various indirect tax and other non-income tax measures are also included.
In this Tax Alert, we provide a summary of the income tax measures contained in Bill C-15, listed by their previous release date or announcement date.
Access the full content in the PDF attached below.
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Issue No. 54, 26 November 2025
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Previous issues
Budget 2025 introduces revised transfer pricing rules
On 4 November 2025, the Minister of Finance and National Revenue, François-Philippe Champagne, tabled the 2025 federal budget, which included substantial draft legislative changes to Canada’s transfer pricing rules in section 247 of the Income Tax Act (the Act).
On 4 November 2025, the Minister of Finance and National Revenue, François-Philippe Champagne, tabled the federal budget 2025. The budget contains tax measures affecting individuals and corporations.
CBSA extends surtax remission for two additional months
On 17 October 2025, the Canada Border Services Agency (CBSA) released a revised version of Customs Notice 25-19, United States Surtax Remission Order (2025) (Customs Notice), which contains new information about the application of the United States Surtax Remission Order (2025).
CBSA releases notice of preliminary determinations with respect to cast iron soil pipe
On 9 October 2025, the Canada Border Services Agency (CBSA) made preliminary determinations of dumping and subsidizing respecting cast iron soil pipe originating in or exported from the People’s Republic of China (China), in accordance with subsection 38(1) of the Special Import Measures Act (SIMA).
CBSA releases notice of final determinations with respect to PET resin
On 15 September 2025, the Canada Border Services Agency (CBSA) made final determinations of dumping with respect to polyethylene terephthalate (PET) resin originating in or exported from certain jurisdictions, pursuant to paragraph 41(1)(a) of the Special Import Measures Act.
CBSA releases notice of preliminary determinations with respect to steel strapping
On 16 September 2025, the Canada Border Services Agency (CBSA) made preliminary determinations of dumping respecting steel strapping originating in or exported from certain jurisdictions pursuant to subsection 38(1) of the Special Import Measures Act.
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