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Canada to reduce number of new Permanent and Temporary Residents and further tighten Temporary Foreign Worker Program (High Wage Stream)
On 24 October 2024, the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship (IRCC), announced the Government of Canada’s Immigration Levels Plan 2025—2027. The announcement comes amidst an on-going period of significant change and reform to the IRCC’s Temporary and Permanent Resident programs. As part of this year’s Plan, the Government has announced significant reductions in targets for new permanent resident admissions and, for the first time ever, they have announced plans to include Temporary Residents (temporary foreign workers and international students) admitted to Canada annually as part of their planning It has been communicated that the intention of the Plan is to alleviate pressures on housing, infrastructure and social services while continuing to preserve the integrity of Canada’s immigration programs to set newcomers up for success.
A Tax Alert prepared by EY Law LLP group, and attached below, provides additional details.