Finance released draft legislation on August 15, 2025 related to certain excessive interest and financing expenses limitation (EIFEL) exemptions, enhancements to the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program, changes to the substantive Canadian-controlled private corporations (CCPCs) rules, the capital gains deferral on small business share rollovers, reporting required for certain trusts and non-profit organizations, and the capital gains exemption for certain sales of businesses, among other measures. Alongside this draft legislation, Finance also released draft legislation for the Global Minimum Tax Act, the Excise Tax Act and several other Income Tax Act technical tax amendments.
Finance is accepting comments on the draft legislative proposals until September 12, 2025
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