Canada Releases 2026 Spring Economic Update

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…