Top Three Highlights from the 2026 Spring Economic Update

Canada Strong For All

On Tuesday, April 28, 2026, Finance Minister François‑Philippe Champagne released the Spring Economic Update, Canada Strong for All, outlining the federal government’s fiscal outlook and policy priorities for the year ahead. The update includes a range of economic and tax measures affecting businesses, individuals, and key sectors of the economy. Here are the top three highlights.

Disability Tax Credit — Proposed Streamlined Access

The federal government proposes to make it easier to access the Disability Tax Credit by streamlining the application process for individuals with certain long-lasting medical conditions. Amongst the changes, an occupational therapist, physiotherapist and a speech-language pathologist may now be able to certify certain impairments for the purposes of obtaining a disability tax credit certificate with the Canada Revenue Agency (CRA).

Employee Ownership Trust (EOT) — Proposal to Make Exemption Permanent

Individuals may be eligible for an exemption on up to $10 million on capital gains realized on a sale of a business to an employee ownership trust, where certain conditions are met. The exemption was originally introduced as a temporary measure applicable to the 2023 to 2026 years. The federal government proposes to make the Employee Ownership Trust tax exemption permanent.

Home Buyer’s Plan – Proposal to Extend Grace Period

The Home Buyer’s Plan currently allows individuals to withdraw up to $60,000 from their RRSP to acquire their first home without having to pay tax on the withdrawal. Amounts withdrawn under the Home Buyer’s Plan must be repaid to the RRSP over a 15-year period. The federal government previously introduced a grace period that defers the start of the 15‑year repayment schedule to the fifth year after the year of withdrawal, provided the first withdrawal was made between 2022 and 2025. The government is now proposing to extend this five‑year grace period to apply where the first withdrawal is made on or before December 31, 2028.

To understand how these changes will impact your personal and business affairs, schedule a consultation with a Crowe Soberman Advisor.

This article has been prepared for the general information of our clients. Please note that this publication should not be considered a substitute for personalized advice related to your situation.

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