Scope: Australia
Proposed
Amendment to foreign resident CGT regime under Division 855
Proposed legislative reforms (not yet law) to non-resident Capital Gains Tax in Division 855 (Income Tax Assessment Act 1997), including: broadened asset base with close economic connection to Australian land; change to the principal asset test to a 365-day period; requirement for foreign residents disposing of shares or membership interests over \$20 million to notify the ATO prior to transaction; all changes apply for CGT events starting on or after 1 July 2025. High impact for foreign investors and large transactions. Since not yet law, proposed status.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Division 296 Tax – Better Targeted Superannuation Concessions for super balances over A$3 million
Announced as part of the BTSC measure; from **1 July 2025**, individuals with a total superannuation balance exceeding A$3 million at the end of a financial year will be taxed at **15% on earnings** attributable to the excess over that threshold. Reporting obligations for super funds (including SMSFs) are being updated, with new labels and data requirements. This is intended to reduce concession for very high super balances.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Personal Income Tax Changes – Reduction of the Lowest Federal Rate from 15% to 14% Effective July 1, 2025
The federal government proposed lowering the first (lowest) marginal income tax rate from 15% to 14%, commencing July 1, 2025. Because this comes in mid-year, the 2025 full-year effective rate is 14.5%. The rate also applies to most non-refundable tax credits. This tax cut benefits low- to middle-income taxpayers and reduces withholding. Further, employers should adjust payroll deductions accordingly after the effective date.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Lowest personal income tax rate reduction and related changes — Canada
Federal Canadian policy reducing the **lowest personal income tax rate** from **15% to 14%**, effective **July 1, 2025**, with a full-year blended rate of **14.5%** for 2025 due to the mid-year change. Also expands critical minerals exploration credits, extends mineral exploration tax credit (METC) for qualifying flow-through share agreements before April 1, 2027, and reclassifies Haida Gwaii for Northern Residents Deductions. These changes provide tax relief for many individuals, particularly those in lower tax brackets or investing in eligible resource activities. Source: Canada.ca.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Policy measure to lower the first marginal personal income tax rate from 15 % to 14 %
Budget 2025 as part of Bill C-4 proposes reducing the first federal personal income tax rate from **15% to 14%**, effective **July 1, 2025**. Due to mid-year implementation, the full-year rate in 2025 will be **14.5%**, moving to **14%** for 2026 and after. Non-refundable tax credits linked to the first bracket will decline accordingly. This represents a major tax relief for lower-income Canadians. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html?utm_source=openai))
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Better Targeted Superannuation Concessions (Division 296)
Legislation applying **from 1 July 2025**, taxing earnings at **15%** on the portion of an individual’s superannuation balance **above $3 million**. Impacts around 0.5% of super fund members. Aims to re-balance equity in tax concessions and improve sustainability of the superannuation system. ([ato.gov.au](https://www.ato.gov.au/about-ato/consultation/in-detail/stewardship-groups-key-messages/small-business-stewardship-group/sbsg-key-messages-26-november-2024?utm_source=openai))
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Lowest federal personal income tax rate reduced to 14 % effective July 1, 2025
As part of Bill C-4 ‘Making Life More Affordable for Canadians Act’, lowest marginal tax rate drops from 15 % to 14 % as of July 1, 2025; for 2025 tax year, results in full-year average rate ~14.5 %; non-refundable credit rates also adjust accordingly.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Status requires verification
Superannuation on government funded paid parental leave (PPLSC)
The Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) Act 2024 makes superannuation contributions mandatory on government funded Paid Parental Leave payments. The law received Royal Assent on 1 October 2024, commenced 1 July 2025, and super funds will receive contributions (for 2025-26 leave) from 1 July 2026. Employers and super funds must follow specific reporting rules.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Personal income tax: What’s new for 2025
Updates include reducing the lowest federal individual income tax rate from 15% to 14% effective July 1, 2025 (full-year rate for 2025 being 14.5%), expansion of critical mineral exploration tax credit (new minerals, eligible flow-through share agreements Nov 4, 2025-April 1, 2027), expanded eligible expenses for disability supports deduction, northern residents deductions reclassifying Haida Gwaii to northern zone, and finality of certain fuel-charge-related credits.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Bill C-4, Making Life More Affordable for Canadians Act receives Royal Assent
Canadian budget legislation that, as of March 12, 2026, enacts multiple affordability-focused tax measures: reduces the first marginal personal income tax rate from 15% to 14% starting July 1, 2025; removes federal GST on new homes ≤ CA$1 million and reduces it for homes between CA$1 million-CA$1.5 million for first-time buyers; permanently removes the federal consumer fuel charge. These changes affect individuals, businesses, and low-income Canadians and alter key tax obligations and reliefs.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Legislation to make life more affordable receives Royal Assent (Bill C-4)
Bill C-4, Making Life More Affordable for Canadians Act, which received Royal Assent on March 12, 2026, implements several affordability measures including: lowering the first marginal personal income tax rate from 15 % to 14 % (effective July 1, 2025), GST elimination or reduction for first-time home buyers on new homes up to and between certain thresholds, and permanently removing the federal consumer fuel charge. These changes will affect tax withholding, benefit eligibility, and overall tax liabilities.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Reducing the First Marginal Personal Income Tax Rate to 14 %
The federal government enacted a tax cut reducing the lowest federal marginal personal income tax rate from 15 % to 14 %, effective July 1, 2025. For the 2025 taxation year only, because the rate change takes effect midway through the year, the full-year rate averages to 14.5 %. This measure reduces the tax on the lowest taxable income bracket (up to about $57,375 in 2025), benefiting nearly 22 million Canadians. The change also affects the rate used to calculate most non-refundable tax credits, which are linked to this lowest rate. Individuals with large non-refundable credits may lose value, but a new non-refundable Top-Up Tax Credit was proposed to offset adverse effects beginning in 2025 and fully in effect 2026–2030.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Canada lowers lowest federal personal income tax rate from 15% to 14% starting July 1, 2025
As part of Canada’s affordability measures, the federal Government has legislated a reduction in the lowest federal tax rate for individuals from 15% to 14%, effective July 1, 2025. Also adjusts source deduction tables so tax withheld reflects new rate in second half of 2025; full-year rate for 2025 becomes 14.5% due to mid-year implementation.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Changes to Guide T4032: Payroll Deductions Reflect New Federal Rate Effective January 2026
Federal tax legislation tabled via Notice of Ways and Means Motion on May 27, 2025 reduces the lowest personal income tax rate from 15% to 14%, with a 14.5% proration in 2025. This change becomes fully effective for the **2026 taxation year** and is reflected in updated CRA withholding/payout tables (Guide T4032 and related). The rate for most non-refundable tax credits also aligns with this new lowest rate. Implications include withholding changes for pay periods, effect on employees’ net pay, and adjustments to credit calculations during tax filings.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Delivering a middle-class tax cut – reducing lowest federal personal income tax rate from 15 % to 14 %
Lowest marginal federal income tax rate cut from 15% to 14% effective July 1, 2025. Full-year rate for 2025 is 14.5% (due to six months at old rate and six months at new rate). Non-refundable credits rate similarly adjusted. Nearly 22 million Canadians benefit, with phasing in via source deduction beginning July 1.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Global
Status requires verification
Canada Proposing Cut of Lowest Personal Income Tax Rate from 15% to 14% Effective July 1, 2025
In Budget 2025, the Canadian government proposed a reduction in the lowest personal income tax rate from 15% to 14%, effective July 1 2025. This will also lower the rate applied to most non-refundable tax credits. For 2025, the full-year rate is calculated as 14.5% due to the mid-year change; in 2026 and beyond the rate is 14%.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Report on Federal Tax Expenditures 2026: Reduction in the First Marginal Personal Income Tax Rate
Introduced in Budget 2025 and included in the 2026 Tax Expenditures report, the government proposed reducing the first federal personal income tax rate from 15% to 14.5% for the 2025 taxation year and to 14% for 2026 onward, with the rate applying to most non-refundable tax credits in parallel. Legislative amendments were included in Bill C-4. This affects individual taxable income in lowest bracket and valuation of credits.
Editorial impact label: Medium
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Australia
Proposed
Changes to non-resident CGT rules under Division 855
Proposed amendments to Division 855 (non-resident capital gains tax) of the Income Tax Assessment Act 1997 will take effect for CGT events starting on or after 1 July 2025. Changes include broader asset coverage for foreign resident CGT, a 365-day principal asset test period, and a requirement for foreign residents disposing of shares or membership interests worth over AUD 20 million to notify the ATO before execution. These aim to align Australia’s rules with OECD standards and improve integrity and certainty for investors.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Middle-class tax cut: Lowest federal personal income tax rate reduced from 15% to 14%
As part of Budget 2025, the lowest marginal federal personal income tax rate is reduced from **15% to 14%**, effective July 1, 2025. This change applies to the first tax bracket up to $57,375 of taxable income for 2025, and to the federal rate applied to most non-refundable tax credits. The annual tax savings are expected to reach up to $420 per person-taxpayer in 2026, double for two-income households.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source
Scope: Canada
Status requires verification
Reduction in the First Marginal Personal Income Tax Rate
Under Bill C-4 (Making Life More Affordable for Canadians Act), the lowest federal personal income tax rate is reduced from 15 % to 14 %, effective July 1, 2025. For 2025 tax year the blended rate is 14.5 %. The rate also applies to most non-refundable tax credits. Legislation confirms 14% rate for full 2026 and beyond.
Editorial impact label: High
- Published
- Not recorded
- Policy event
- Not recorded
- Effective
- Jul 1, 2025
- Verification
- Not recorded
Open cited source