FEDERAL
Tabling of a Notice of Ways and Means Motion
On May 27, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, tabled a notice of a ways and means motion for the introduction of a bill concerning certain affordability measures for Canadians, along with one other measure.
Specifically, this notice of ways and means motion provides for a reduction in the first income tax bracket rate, as announced on May 14, 2025, lowering the 2025 tax rate to 14.5%, and then to 14% in 2026.
In addition, it includes proposed amendments to eliminate the GST for first-time buyers of newly built homes valued at up to $1 million.
Source : Flash fiscal, vol. 33, no 11, Montréal, Association de planification fiscale et financière, June 2nd, 2025.
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This letter summarizes recent tax developments and tax planning opportunities; however, we recommend that you consult with an expert before embarking on any of the suggestions mentioned here that might be applicable to your own specific situation.
