Bill C-15: Budget 2025 Implementation Act, No. 1

This bill touches virtually every sector of the Canadian economy. Small and mid-sized manufacturers benefit from reinstated accelerated capital cost allowances and immediate expensing for productivity-enhancing assets. Businesses doing SR&ED (scientific research and experimental development) — including now eligible Canadian public corporations — see higher expenditure limits and restored capital expenditure eligibility for the enhanced 35% credit. Clean energy developers, mining companies extracting critical minerals, and builders of purpose-built rental housing all gain new or expanded investment tax credits. Small business owners selling to employee ownership trusts or worker cooperatives can exempt up to $10 million in capital gains. Financial institutions and fintechs face new consumer-driven banking and stablecoin regulatory frameworks. Retailers and e-commerce businesses see the digital services tax repealed. Property owners benefit from the end of the underused housing tax, and aircraft/vessel dealers see the luxury tax ended on those items. The Canada Carbon Rebate for small businesses is amended, and transfer pricing rules are reformed for multinationals. Size matters significantly: the SR&ED credit expansion uses revenue-based thresholds benefiting companies with under $75 million in revenue, while the small business capital gains rollover now covers corporations with assets up to $100 million.