Canada: Direct and indirect tax measures in 2025 budget (Ontario)
Ontario’s Finance Minister delivered the province’s 2025 budget on May 15, 2025.
Ontario’s Finance Minister delivered the province’s 2025 budget on May 15, 2025.
The budget—which does not include any new changes to the corporate or individual (personal) income tax rates—confirms that qualifying businesses can defer payments for select Ontario taxes owed from April 1, 2025, to October 1, 2025, enhances and expands the Ontario Made Manufacturing Investment Tax Credit, and indefinitely extends the current reduced tax rates on gasoline and fuel, among other changes.
Read a May 2025 report prepared by the KPMG member firm in Canada