The Department of Finance Canada has announced the release of the 2026 Spring Economic Update, including certain tax measures. Some of the main measures include:
- A reduction in the Canada Pension Plan (CPP) contribution rate for the base CPP from 9.9% to 9.5%, effective 1 January 2027;
- The expansion of the Carbon Capture, Utilization, and Storage (CCUS) investment tax credit to include Enhanced Oil Recovery (EOR), but at 50% of the standard rates available for dedicated geological storage o…