Canada: Direct and indirect tax measures in 2025 Fall Economic Update (Ontario)
No changes to the corporate or individual (personal) tax rates
Ontario's Finance Minister on November 6, 2025, delivered the province’s 2025 Fall Economic Update, which does not include any changes to the corporate or individual (personal) tax rates, but does include the following direct and indirect measures:
- Expansion of the Ontario Made Manufacturing Investment Tax Credit (OMMITC)
- New harmonized sales tax (HST) rebate to eliminate the provincial HST on qualifying homes for first-time home buyers
- New nonresident speculation tax (NRST) rebate on certain repurposed residential properties
- Introduction of beneficial ownership registry for privately held business corporations in 2027
Read a November 2025 report prepared by the KPMG member firm in Canada