Now that the vote count is over, it is time to reflect on how the results will impact Federal government funding. None of the parties achieved a majority in Parliament, so we imagine it would be a rough ride to pass the Federal budget. In case you didn’t know, we don’t have a Federal budget because the Parliament was closed, and the government fiscal year starts on April 1.
Our key expectations, assuming the new government will stay in power after surviving the budget vote:
- Most Federal Tax Credits will not change.
- SR&ED Tax Credit reform will continue, and the most recent changes will be legislated
- The CanExport grant budget will likely be boosted to allow Canadian businesses to diversify. Apply by May 31. We expect the next intake in the fall.
- Federal Development funding with programs such as Business Scale Up & Productivity and Strategic Innovation Fund will remain in place for large-scale projects.
It is unclear yet if any new funding programs related to Tariffs will be in place. The next few weeks will tell, and we will keep you posted.
In the meantime, register for two webinars later this week where we will go through some of the government grants in detail.
Join our free webinar on Thursday, May 1, at 10 AM EST on the CanExport SME Grant. Igor Chigrin and Mike Jennings will share practical advice on preparing a strong CanExport application and how to make the most of the grant funding to support your international marketing activities.
Also, join us for a free webinar brought to you by the Ontario Aerospace Council on Friday, May 2, 2025, at 11:00 AM ET to explore grants, loans, tax credits, and tariff relief programs available to the aerospace industry — and tips to increase your chances of success. If you are not in aerospace but in any manufacturing or technology industry, this webinar will be useful for you, and you are welcome to attend. Registration closes April 30. Don’t miss out!
