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How Mark Carney’s federal budget would impact your taxes, from automatic tax filing to axing luxury tax
Monday, November 10th, 2025
The 2025 federal budget proposes lowering the first marginal personal income tax rate to 14.5 per cent in 2025 and automatically filing taxes for 1 million low-income Canadians by 2027. First-time homebuyers could receive a GST rebate up to $50,000 on some new homes, while the Underused Housing Tax would be eliminated. The budget also proposes eliminating luxury taxes on some boats and aircraft
Tags: budget, economy, featured, jurisdiction, tax
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