Budget 2025 made some changes to tax policy. What does it mean for Canadians ?

Prime Minister Mark Carney tabled his government’s first budget in the
House of Commons on Tuesday, and included in the plan are several
changes to taxes for Canadians and businesses. Among the proposals
are automatic tax filing for low-income Canadians, eliminating “double
dipping” among some who claim two types of tax credits for the same
renovation projects, and a lowering of the effective corporate tax rate
for eligible businesses .Budget 2025 also proposed introduce automatic
tax filing for low-income Canadians. The individuals will be sent their tax
information by the Canada Revenue Agency (CRA), after which they will
have 90 days to file their tax returns.
If they do not do so, the CRA can file the tax returns on their behalf.
The budget also introduced a federal tax credit for personal support workers.
Similar credits are already available for personal support workers in British
Columbia, Newfoundland and Labrador and the Northwest Territories. Under
the measures announced in the budget, eligible personal support workers
employed in the remaining provinces and territories could claim a refundable
tax credit equal to five per cent of their eligible earnings, providing support of
up to $1,100 per year.








