NEW BUDGET TWEAKS INDIRECT TAX RULES
BUDGET 2025 HARD TO CELEBRATE BUT PROPOSES SOME GOOD INDIRECT TAX CHANGES
Canada's Budget 2025 was launched on November 4th with the energy of a lead balloon. Despite the doom and gloom focus on the continuing deficit financing by the Liberal Government – off-loading our current woes on the backs of our children and grandchildren – there were some (largely) positive changes from an Indirect Tax perspective.
The highlights, in our view, are as follows.
ONTARIO'S ELECTRICITY EXPORT TAX
PREMIER FORD ANNOUNCES EXPORT TAX, BUT WILL IT BE LEGAL?
On March 4, 2025, Ontario’s Premier Doug Ford announced further a retaliatory measure to the recently announced Trump tariffs, indicating that Ontario would apply a tax on exports of electricity to the United States (“US”). While that announcement might make many Ontarians (and Canadians) feel good about "taking a stance", one wonders whether Ontario has the legal powers to do what it says it is going to do.
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