Key 2026 Federal Budget coverage and highlights

News, Small Business, Tax Information

Nevcon Accounting is pleased to provide a helpful summaries, links to articles, analyses and more, to let you learn more about the 2026 Canadian Federal Budget, delivered November 5, 2026.

Like you, we’re digesting all that this new budget has to offer – or has not offered – so we will follow up soon on specific subjects and measures. Right now, we highlight the following:

  • Tax filing and payment deadline moves to May 15 for individuals, including the self-employed (2027 tax year onward)
  • Installment threshold rises to $7,500 (from $3,000) starting in 2028; individuals with business income can choose one annual installment due December 31st
  • Canada Growth Incentive: up to $15 million capital gains exemption on qualifying new shares; enhanced small business rollover
  • Scientific Research and Experimental Development (SR&ED) expanded to cover regulatory certification and IP protection costs
  • One-year deadline to file a notice of objection (no more extensions)
  • Most fixed-dollar penalties increase, with larger amounts for medium and large businesses
  • T1135 foreign property reporting threshold doubles to $200,000
  • CDIC deposit insurance limit rising to $250,000
  • One-time Canada Groceries and Essentials Benefit top-up in early 2027
  • Proposed merging of core features of the RRSP and RRIF into one single “RRSP-for-life”.

Here are some useful links. (Note that some publications and web sites might require subscriptions to log in.)

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