Every federal budget from 2018 to 2026, with the real tax changes that affected Canadians. From capital gains inclusion rate increases to pandemic CERB payments — find the budget measures that matter for your tax situation.
The annual RRSP contribution limit increases to $32,490 for 2026, up from $31,560 in 2025.
The Tax-Free Savings Account annual contribution limit remains at $7,000 for 2026.
The First Home Savings Account program receives additional funding to expand outreach and application processing.
+ 7 more measures
Technical amendments refine the enhanced AMT formula introduced in Budget 2023.
New financing through the Canada Mortgage and Housing Corporation supports construction of 100,000 rental units over five years.
Budget 2025 proposes a one-time additional $8,000 FHSA contribution room for eligible account holders who opened an account before April 1, 2025.
+ 6 more measures
The most significant income tax change in Budget 2024: the capital gains inclusion rate rises from 50% to 66.
To partially offset the capital gains inclusion rate increase, the Lifetime Capital Gains Exemption for qualifying small business shares and farm/fishing property increases to $1.
The Alternative Minimum Tax rate increases to 20.
+ 7 more measures
The First Home Savings Account launches April 1, 2023 as a new registered account that combines RRSP and TFSA tax benefits.
A one-time Grocery Rebate provides targeted relief to low- and modest-income Canadians facing food inflation.
The Canadian Dental Care Plan provides oral health coverage to uninsured Canadians with family net income under $90,000.
+ 7 more measures
The First Home Buyer's Tax Credit amount doubles from $5,000 to $10,000, increasing the maximum non-refundable federal tax credit to $1,500 (from $750).
Budget 2022 introduces the First Home Savings Account concept: a new registered account combining RRSP and TFSA features for first-time home buyers.
A new Multigenerational Home Renovation Tax Credit is announced in Budget 2022 to support families creating secondary suites for senior relatives or adults with disabilities.
+ 5 more measures
Budget 2021 commits $30 billion over five years to build a national $10-a-day early learning and child care system.
A new Luxury Tax applies to the sale or importation of new cars and aircraft priced above $100,000, and new vessels (boats) above $250,000.
The Canada Emergency Wage Subsidy is extended to September 25, 2021, with gradual tapering of the subsidy rate as the economy reopens.
+ 6 more measures
The Canada Emergency Response Benefit provides $2,000 per four-week period to workers who lost their income due to COVID-19.
The Canada Emergency Wage Subsidy reimburses eligible employers up to 75% of employee wages for employees who would otherwise be laid off.
The Canada Emergency Business Account provides interest-free loans of up to $40,000 to small businesses and not-for-profits to cover operating costs during the pandemic.
+ 5 more measures
The Canada Training Credit accumulates $250 per year for eligible Canadians aged 25 to 64 who file a tax return and earn between $10,000 and $147,667.
The First-Time Home Buyer Incentive provides a shared equity mortgage from the Canada Mortgage and Housing Corporation of 5% to 10% of the home purchase price.
The Home Buyers' Plan withdrawal limit increases to $35,000 from $25,000, allowing first-time home buyers to access more RRSP savings for a down payment.
+ 5 more measures
Budget 2018 introduces rules limiting access to the small business deduction based on passive investment income earned inside a CCPC.
The Canada Child Benefit is indexed to inflation starting in the 2018-19 benefit year, two years earlier than originally planned.
Eligibility rules for EI regular benefits are improved in regions with high unemployment, and the qualifying period is reduced in some circumstances.
+ 5 more measures
Each province and territory delivers its own annual budget with changes to provincial income tax rates, credits, and programs. Below you'll find budget summaries for each province, including the most recent provincial budget measures and how they affect your after-tax income.
TaxSimplified compiles and explains Canadian federal and provincial budget measures to help taxpayers, accountants, and financial planners understand how government decisions affect their tax obligations. Budget measures are explained in plain language alongside references to specific tax changes.
For personalized tax planning based on budget changes, use our tax calculators or consult the current tax rate tables.
