What's in the 2025 Federal Budget for your business?

The Canadian Federation of Independent Business (CFIB) expressed disappointment with the latest federal budget: https://www.cfib-fcei.ca/en/media/struggling-small-businesses-wont-find-much-help-in-the-federal-budget. Below is a clear breakdown of the CFIB’s key concerns (what was missing) and the budget’s positive elements for small and medium-sized businesses (SMBs).

Measures Missing from the Budget (per CFIB)

Lower taxes for SMBs
Tariff compensations inclusive of non-unionized businesses
Expansion of the Regional Tariff Response Initiative to cover smaller businesses
Retention of the Canadian Entrepreneurs’ Incentive (which was cancelled)

Positive Elements in the Budget for SMBs

100% Accelerated Capital Cost Allowance in Year 1
Available when 90% of the floor plan financing requirement is met. Consult your accountant for details.
SR&ED capital expenditures now eligible
Previously limited to consumables only.
Increase to the Lifetime Capital Gains Exemption (LCGE)
Speak with a specialized CPA to understand the impact.