{"id":49913,"date":"2026-05-01T13:42:52","date_gmt":"2026-05-01T17:42:52","guid":{"rendered":"https:\/\/www.millerthomson.com\/?p=49913"},"modified":"2026-05-01T13:42:54","modified_gmt":"2026-05-01T17:42:54","slug":"spring-economic-update-2026-key-tax-changes-to-watch","status":"publish","type":"post","link":"https:\/\/www.millerthomson.com\/en\/insights\/corporate-tax\/spring-economic-update-2026-key-tax-changes-to-watch\/","title":{"rendered":"Spring Economic Update 2026: Key tax changes to watch"},"content":{"rendered":"\n<p>The <a href=\"https:\/\/budget.canada.ca\/update-miseajour\/2026\/home-accueil-en.html\">Spring Economic Update 2026<\/a> introduces a mix of targeted personal and business tax measures aimed at improving access to disability supports, supporting home ownership and labour mobility, and incentivizing low\u2011carbon investment in Canada\u2019s energy sector. Many of the proposed changes focus on simplifying administration while expanding or extending existing relief.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Personal income tax measures<\/h2>\n\n\n\n<ol class=\"wp-block-list\"><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">1.1 Disability Tax Credit<\/h3>\n\n\n\n<p>The <strong>Disability Tax Credit (\u201cDTC\u201d)<\/strong> remains a cornerstone of federal disability support. For 2026, the credit amount is set at <strong>$10,341<\/strong>, providing up to <strong>$1,448 in federal tax relief<\/strong><strong>.<\/strong><\/p>\n\n\n\n<p>Eligibility continues to depend on certification by a qualified medical practitioner and approval by the Canada Revenue Agency (the \u201c<strong>CRA<\/strong>\u201d). A valid DTC certificate is required to access several other federal programs, including the <strong>Canada Disability Benefit, Registered Disability Savings Plans, <\/strong>the <strong>Child Disability Benefit<\/strong>, and the disability supplement to the <strong>Canada Workers Benefit.<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Streamlined DTC certification for long-lasting medical conditions<\/h4>\n\n\n\n<p>For DTC certifications issued as of 2026, the government proposes to streamline the application process for individuals who have certain well\u2011established, long\u2011lasting medical conditions. In these cases, medical practitioners would only be required to certify the diagnosis rather than provide detailed descriptions of functional limitations. Eligibility criteria remain unchanged, and the CRA retains authority to request additional information where needed.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Expanded certification powers and support of incapable adults<\/h4>\n\n\n\n<p>Beginning in 2027, it is proposed that the range of professionals authorized to certify impairments for DTC purposes be expanded:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>occupational therapists;<\/li>\n\n\n\n<li>physiotherapists; and<\/li>\n\n\n\n<li>speech\u2011language pathologists<\/li>\n<\/ul>\n\n\n\n<p>will be able to certify additional impairments within their scope of practice, and:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>podiatrists will be added as certifiers for walking impairments.<\/li>\n<\/ul>\n\n\n\n<p>In addition, for certifications issued in 2026 and beyond, it is proposed that public guardians, trustees, and curators, including Quebec\u2019s Public Curator, may certify that an adult under their care has a valid certificate of incapacity, eliminating the need for separate medical certification of the impairment. Similar authority is extended to <strong>Indigenous Services Canada<\/strong> and <strong>Crown\u2011Indigenous Relations and Northern Affairs Canada<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.2 Business succession: Employee Ownership Trusts (\u201cEOT\u201d)<\/h3>\n\n\n\n<p>The $10 million lifetime capital gains exemption for individuals selling a business to an employee ownership trust is proposed to become permanent, providing greater certainty for succession planning beyond 2026.<\/p>\n\n\n\n<p>As discussed in our <a href=\"https:\/\/www.millerthomson.com\/en\/insights\/private-client\/new-succession-strategies-for-businesses\/\">article explaining the scope, conditions, and practical limits of the EOT rules<\/a>, the exemption is subject to strict eligibility requirements, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>governance;<\/li>\n\n\n\n<li>control; and<\/li>\n\n\n\n<li>beneficiary restrictions.<\/li>\n<\/ul>\n\n\n\n<p>While the measure was introduced to facilitate employee\u2011led succession and business continuity, it has remained underused in practice to date, largely due to its technical complexity, limited flexibility in structuring transaction, and the availability of more familiar succession alternatives.<\/p>\n\n\n\n<p>By removing the sunset date, the government appears to be signaling a long\u2011term commitment to employee ownership structures. However, whether this change alone will materially increase uptake remains to be seen, absent further simplification or clearer administrative guidance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.3 Housing: Home Buyers\u2019 Plan relief extended<\/h3>\n\n\n\n<p>The five\u2011year grace period before RRSP repayment begins under the Home Buyers\u2019 Plan is proposed to be extended to apply to first withdrawals made up to the end of 2028. The 15\u2011year repayment period will start in year five, easing near\u2011term cash flow pressures for first\u2011time buyers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.4 Improved labour mobility deduction<\/h3>\n\n\n\n<p>Effective as of 2026, the annual deduction limit for eligible temporary relocation expenses for tradespeople and apprentices working in the construction industry is proposed to increase from $4,000 to $10,000 (indexed thereafter), and the minimum distance requirement for temporary lodging is reduced from 150 km to 120 km.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1.5 Canada Pension Plan<\/h3>\n\n\n\n<p>In an effort to make life more affordable, the Spring Economic Statement proposes amendments to the Canada Pension Plan (\u201c<strong>CPP<\/strong>\u201d) to reduce the contribution rate in the base CPP. An actuarial report on the CPP tabled in Parliament in December 2025 showed that the lowest rate required to financially sustain the plan over the next 75 years is at least 69 basis points below the current legislated rate.<\/p>\n\n\n\n<p>The amendment would reduce the contribution rate from 9.9% to 9.5% effective January 1, 2027, the equivalent of a 40-basis point reduction.&nbsp; This measure would result in annual savings of $133 for an employee earning $70,000 a year, or $266 for self-employed persons who pay both the employer and employee contributions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Business income tax measures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">2.1 Accelerated capital cost allowance rates for low-carbon liquified national gas facilities<\/h3>\n\n\n\n<p>The Spring Economic Update proposes implementation details for the reinstatement of accelerated capital cost allowances (\u201c<strong>CCAs<\/strong>\u201d) for eligible liquefied natural gas (\u201c<strong>LNG<\/strong>\u201d) equipment and related buildings, as announced in Budget 2025.<\/p>\n\n\n\n<p>To qualify for an accelerated CCA, an LNG facility\u2019s expected emissions intensity from on-site liquefaction activities must be no more than 0.20 tCO\u2082e\/tLNG. The measure would provide:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a 50% accelerated CCA rate for Class 47 liquefaction equipment;<\/li>\n\n\n\n<li>a 10% accelerated CCA rate for Class 1 non-residential buildings in LNG facilities; and<\/li>\n\n\n\n<li>access to the enhanced first-year Accelerated Investment Incentive deduction for certain capital property, as described in our <a href=\"https:\/\/www.millerthomson.com\/en\/insights\/corporate-tax\/full-speed-ahead-what-canadas-new-immediate-expensing-means-for-manufacturers\/\">article on Canada\u2019s new immediate expensing<\/a>.<\/li>\n<\/ul>\n\n\n\n<p>Eligibility would be subject to certification by the Minister of Energy and Natural Resources, based on a one-time report prepared by a qualified third-party Canadian engineering firm.<\/p>\n\n\n\n<p>The report would have to include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>a front-end engineering design study; and<\/li>\n\n\n\n<li>the facility\u2019s expected emissions intensity.<\/li>\n<\/ul>\n\n\n\n<p>Expected emissions intensity would apply to <strong>on-site liquefaction activities<\/strong> and be based on the facility\u2019s initial operating configuration for commercial production.<\/p>\n\n\n\n<p>For facilities that are pre-construction or under construction, expected emissions intensity would be based on the proposed design. For facilities acquiring new eligible assets, it would be based on the as-operated design, taking into account the impact of those assets.<\/p>\n\n\n\n<p>Following review, the Minister would determine whether the facility meets the threshold, certify eligibility, and notify both the facility owner and the CRA.<\/p>\n\n\n\n<p>A certified LNG facility would be subject to rules mirroring the prior LNG accelerated CCA regime that expired in 2024. Eligible property would include specified Class 47 liquefaction equipment, pipelines, and related structures, and Class 1 non-residential buildings forming part of the facility. Excluded property would include equipment used exclusively for regasification, property acquired for the production of oxygen or nitrogen, electrical generating equipment, certain marine structures, and property previously used or acquired for use before its acquisition by the taxpayer.<\/p>\n\n\n\n<p>The accelerated CCAs could only be claimed against income of the taxpayer attributable to the liquefaction of natural gas at that facility, including income from the sale of liquefied gas (where the taxpayer owned the natural gas when it entered the facility), by-products, and liquefaction services for third-party-owned gas.<\/p>\n\n\n\n<p>Where a taxpayer is not engaged exclusively in the operation of a liquefaction facility, its income attributable to liquefaction would be determined as if the facility were a separate business. The cost to the taxpayer of natural gas owned by the taxpayer before it enters the facility would be deemed to be its fair market value at that time.<\/p>\n\n\n\n<p>The accelerated CCA rates would apply to eligible assets acquired from November 4, 2025, to the end of 2034.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2.2 Carbon Capture, Utilization, and Storage Investment Tax Credit<\/h3>\n\n\n\n<p>The Spring Economic Update proposes to expand the Carbon Capture, Utilization, and Storage (\u201c<strong>CCUS<\/strong>\u201d) investment tax credit by adding enhanced oil recovery (\u201c<strong>EOR<\/strong>\u201d) as an eligible use. EOR will also be recognized as a form of CO<sub>2<\/sub> storage for the purposes of the Clean Hydrogen and Clean Electricity investment tax credits. However, the CCUS tax credit rate will be one-half of the rates applicable to dedicated geological storage and storage in concrete.<\/p>\n\n\n\n<p>Similar to the process for dedicated geological storage, the storage of CO<sub>2<\/sub> through EOR will contribute to a project\u2019s eligible use only in jurisdictions with sufficient regulations to ensure that the CO<sub>2<\/sub> is permanently stored. Further, similar to the current CCUS investment tax credit rules for other eligible projects, there is a recovery mechanism based on the actual amount of CO<sub>2 &nbsp;<\/sub>sent to EOR.<\/p>\n\n\n\n<p>This measure is proposed to apply as of April 29, 2026, subject to the designation of the jurisdiction.<\/p>\n\n\n\n<p>If you would like to discuss how these changes may affect you or your business, or if you need assistance with planning or compliance, please do not hesitate to contact a lawyer from Miller Thomson&#8217;s <a href=\"https:\/\/www.millerthomson.com\/en\/expertise\/tax\/\">Tax Group<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Spring Economic Update 2026 introduces a mix of targeted personal and business tax measures aimed at improving access to disability supports, supporting home ownership and labour mobility, and incentivizing low\u2011carbon investment in Canada\u2019s energy sector. Many of the proposed changes focus on simplifying administration while expanding or extending existing relief. 1. Personal income tax [&hellip;]<\/p>\n","protected":false},"author":122,"featured_media":25762,"parent":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[551],"insight-format":[416],"class_list":["post-49913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spring Economic Update 2026: Key tax changes to watch | Miller Thomson<\/title>\n<meta name=\"description\" content=\"Canada&#039;s 2026 Spring Economic Update proposes over a dozen tax changes. 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