Your guide to tax season: federal budget highlights

In our November 2025 Wealth insights webinar, we take a look at the 2025 federal budget from a tax perspective, including personal and corporate measures that could impact high-net-worth individuals, families and business owners. We also discuss general year-end tax planning tips and strategies to help you navigate tax season.

Much of the uncertainty surrounding this year’s federal budget centred less around anticipated measures and more around whether it might fail to pass in parliament and trigger a federal election. Ultimately, the budget did pass. From a tax-planning perspective, however, several measures could impact the amount of tax Canadians pay in the 2025 fiscal year.

In the video, Manulife tax experts Hemal Balsara and John Natale unpack key budget measures that could affect tax planning for 2025 and provide tips for maximizing tax efficiency and making informed decisions about credits, deductions and estate planning.

Topics covered include:

• Personal tax measures in the budget, including no new changes to tax rates, the elimination of the underused housing tax and the decision not to implement a wealth tax.
• Corporate tax changes, including tax deferral strategies and incentives for manufacturing investments.
• Tax-planning tips covering topics such as deductions, credits, tax-loss selling, and strategies for registered accounts, along with the importance of diversification and active securities management in both equities and fixed income. 

Should you wish to learn more about the topics presented or offerings on our platform, please reach out to your investment counsellor or a member of the Manulife Private Wealth team.