Canada | Ontario budget 2025-26

20 May 2025|Tax Alerts, Provincial/State & Local Taxation|Canada

On 15 May 2025, Ontario's Finance Minister presented the 2025-26 budget, which includes no new taxes or tax increases, while projecting a deficit of CA$14.6b for the fiscal year.
Corporate income tax rates will remain unchanged, with a small-business tax rate of 3.20% and a general corporate tax rate of 11.50%.
The budget introduces enhancements to the Ontario-made manufacturing investment tax credit, increasing the refundable rate from 10% to 15% for eligible investments made on or after 15 May 2…

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