Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) released consultation draft legislative proposals that would implement a range of previously announced and other tax measures. The government invites all interested Canadians and stakeholders to provide feedback on these draft legislative proposals by emailing their comments by Sept, 12, 2025. The Department of Finance also posted … Read more
Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) and Foreign Affairs Minister Anita Anand (Oakville East, Ont.) announced that Canada intends to, alongside the European Union and the United Kingdom, further restrict Russian’s war efforts by lowering the price cap for seaborne Russian-origin crude oil from US$60 to US$47.60 per barrel. The required regulatory … Read more
The third G20 Finance Ministers and Central Bank Governors Meeting, held July 17-18, in Durban, South Africa, focused on strengthening global economic resilience amid ongoing uncertainties such as geopolitical tensions, high debt levels, and climate-related risks. Ministers emphasized the importance of growth-oriented, sustainable macroeconomic policies, maintaining central bank independence, and promoting open and fair trade … Read more
The government is launching consultations in keeping with its commitment to enhance Canada’s robust depositor protection framework to support the evolving needs of Canadians and the banking sector at large. The government invites all interested Canadians and stakeholders to review the consultation paper and to email their comments on the questions and proposals by Sept. 26. The full release … Read more
Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) concluded his participation in the G7 and G20 meetings of Finance Ministers and Central Bank Governors (FMCBG) in Durban, South Africa. At the G20 meeting, Champagne outlined Canada’s vision for the global economy, as well as for the international financial architecture, international taxation and ways to … Read more
Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) launched pre-budget consultations. Starting today, until Aug. 28. Consultations will focus on bringing down costs for Canadians – building on measures such as the middle-class tax cut which saves a two-income family up to $840 a year and removing GST on new homes under $1 million for … Read more
Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) concluded a visit to Rome where he participated in the Ukraine Recovery Conference and bilateral talks with Italian officials, reaffirming Canada’s global partnerships and support for Ukraine. He announced a $200 million disbursement through the World Bank’s F.O.R.T.I.S. fund, completing Canada’s $5 billion commitment under … Read more
Minister of Finance and National Revenue François-Philippe Champagne (Saint-Maurice–Champlain, Que.) announced that the federal government will introduce legislation to make all Canada Carbon Rebates for Small Businesses tax-free. The measure applies to payments for the 2019-20 to 2024-25 fuel charge years, ensuring businesses receive the full value of the rebates without having to include them in … Read more
Finance Canada issued a statement: “Earlier this year the U.S. Secretary of the Treasury outlined the United States’ concerns regarding the Pillar 2 rules agreed by the OECD/G20 Inclusive Framework on BEPS and set out a proposed ‘side-by-side’ solution under which U.S. parented groups would be exempt from the Income Inclusion Rule (IIR) and Undertaxed Profits Rule … Read more
On June 23, Deputy Minister of Finance Chris Forbes hosted a briefing with Canadian industry and labour stakeholders on Canada-United States (U.S.) economic issues. Senior officials from the Embassy of Canada in the U.S., also joined the call. Forbes provided an overview of the work to respond to the unjustified U.S. tariffs, as well as the ongoing discussions … Read more
