C-15, the Budget 2025 Implementation Act, No. 1, is a proposed omnibus bill: it would amend many existing laws, repeal some laws and enact new ones. Its stated goal is to put parts of the November 4, 2025 budget into law. The supplied material does not establish whether the bill has passed or when all of its provisions would start; the changes below are proposed, not proof of rules now in force.
Taxes and tax credits: It would change personal and business tax rules, including raising the Lifetime Capital Gains Exemption limit to $1.25 million, creating a deduction for qualifying business sales to worker cooperatives, expanding research and clean-energy tax credits, and creating a Personal Support Workers Tax Credit.
Housing, infrastructure and climate: It would authorize up to $11.5 billion for Build Canada Homes, up to $1.515 billion for Canada Lands Company, and raise the Canada Infrastructure Bank’s payment limit to $45 billion. It would also create a framework for high-speed rail between Quebec and Ontario, including special land-acquisition and expropriation rules.
Taxes ended or repealed: It would end the Underused Housing Tax for 2025 and later years, with formal repeal of its Act and regulations set for 2035. It would end the luxury tax on subject aircraft and vessels for tax that would otherwise become payable after November 4, 2025, but would not end the tax on subject vehicles. It would repeal the Digital Services Tax Act and require refunds of amounts paid under it, with interest.
New rules for finance and data: It would replace the 2024 Consumer-Driven Banking Act with a new law for consumer-directed data sharing, and create a Stablecoin Act with issuer duties and Bank of Canada oversight. Both would have provisions that start only on dates set by the Governor in Council.
Other major changes: It would let listed Indigenous governments opt in to taxing specified products on their lands under their own laws. It would enact a National School Food Program Act that states a vision and a commitment to long-term funding through agreements, but sets no funding amount. It would also authorize measures to divest or dissolve the Freshwater Fish Marketing Corporation.
Individuals and workers: Eligible people with disabilities could claim more support-related expenses. Eligible personal support workers could claim a credit of up to $1,100 a year for 2026–2030; employers would have to certify qualifying pay. The credit excludes work performed in British Columbia, Newfoundland and Labrador, and the Northwest Territories.
Business owners, investors and researchers: Some qualifying business sellers could claim a deduction on up to $10 million in capital gains when converting a business to a worker cooperative. Businesses could gain access to expanded research, clean-energy and investment tax incentives. Eligibility rules and conditions would apply.
People who own or buy housing, aircraft or vessels: The underused housing tax would not be payable and no return would be required for 2025 and later years. Subject aircraft and vessels would be exempt from the luxury tax when it would otherwise become payable after November 4, 2025; vehicle rules would remain.
Indigenous governments: A listed government could choose to enact a tax on specified fuel, alcohol, cannabis, tobacco and vaping products on its lands. The law would need an administration agreement to take effect; this is not an automatic tax for every Indigenous community.
Landowners and occupants along the proposed rail route: The rail corporation could register a right-of-first-refusal notice on land it may need; while registered, a third-party sale would be void. A separate notice could bar most work on land for up to four years. Expropriation would be possible without first trying to buy the land. The bill provides for objections and some compensation, subject to its rules.
Bank customers and people using financial data: The proposed consumer-driven banking law would require participating entities to share data when a consumer directs them to, without charging for sharing. Banks would also have to obtain express consent for specified account capabilities and let customers adjust certain transaction limits; regulations would define details. These changes do not all start automatically on royal assent.
The bill authorizes specific public payments and tax relief, but the supplied material contains no overall cost estimate.
Up to $11.5 billion could be paid for Build Canada Homes and up to $1.515 billion for Canada Lands Company. These are spending limits, not amounts the bill says will necessarily be spent.
The Canada Infrastructure Bank’s maximum federal payments would rise to $45 billion. The bill also raises the federal borrowing limit to $2.541 trillion.
Tax credits, exemptions and accelerated deductions could reduce government revenue; no estimates are supplied. The school food law promises long-term funding through agreements but gives no amount. Costs for rail, new oversight and staffing are also not quantified.
Digital Services Tax amounts already paid would have to be refunded with interest.
The bill gives no overall fiscal estimate, and many tax changes lack revenue estimates in the supplied material.
Many details depend on later regulations, including stablecoin requirements, consumer-data safeguards, fraud rules and which Indigenous governments and products are covered.
Several provisions start only when a date is set by the Governor in Council. The supplied material does not give those dates.
The school food law does not set funding amounts, service standards or eligibility rules. The bill does not explain how its long-term funding commitment would be delivered in practice.
The supplied material does not establish the bill’s passage status or which provisions, if any, are currently in force.
A possible case for the tax changes is that more generous investment and research incentives could make qualifying projects less costly to undertake.
The proposed data-sharing law could give consumers more control over where their financial data goes, while requiring consent, security measures and remedies for certain losses.
The Indigenous tax option could let participating governments raise revenue under their own laws, if they choose to opt in.
The school food law would set a continuing federal commitment and require annual reports, rather than leaving the program only as a stated policy goal.
The bill combines many major subjects. That makes it harder for the public to assess each change, its cost and how the provisions may interact.
Large spending limits and tax incentives are proposed without an overall cost estimate in the supplied material.
The rail provisions could restrict land sales or work before construction decisions are complete, and allow expropriation without a prior purchase attempt. The bill does provide objection procedures and some compensation, but their practical effect is unclear.
Important details are left to future regulations or ministerial decisions. This could leave affected people and businesses uncertain about the rules until those details are set.