Prime Minister Mark Carney’s first federal budget was tabled today, delivering the most significant SR&ED program enhancements in over a decade. The expenditure limit for enhanced refundable credits has jumped from $3 million to $6 million (doubling the previously announced $4.5 million increase), capital expenditures are back, and the government is investing $110 billion over five years in productivity and competitiveness measures. With a projected $78 billion deficit, this budget prioritizes “spending less to invest more” through capital investments while cutting operational costs by $60 billion over five years.

Last updated: November 4, 2025 at 3:00 PM ET

The Big Picture: A Budget Shaped by Uncertainty

Canada’s 2025 federal budget arrives at a pivotal moment. With U.S. trade tensions creating economic uncertainty and sectors like steel, aluminum, and automotive facing tariff pressures, the Carney government has characterized this budget as one that will “define our next century.”

For the first time, the budget separates operational spending (day-to-day government programs) from capital spending (infrastructure and fixed assets), with Carney promising to balance the operational budget by 2028-29 while increasing capital investments to drive economic growth.

The deficit: Budget 2025 projects a deficit of $78 billion for 2025-26, significantly higher than last year’s $42 billion projection. The deficit is forecast to drop to $65 billion next fiscal year, then gradually fall to $57 billion by 2029-30. By 2028-29, the government aims for the deficit to entirely support capital investments that grow the economy, with all operational spending balanced by revenues.

What’s in the Budget for Innovation

SR&ED Program: Major Enhancements Confirmed

Budget 2025 delivers on and expands the SR&ED enhancements that were previewed in the 2024 Fall Economic Statement, with one major surprise: the expenditure limit increase is even larger than expected.

Key Changes (effective for taxation years beginning on or after December 16, 2024):

  1. Expenditure Limit Doubled to $6 Million
    1. The annual expenditure limit for the enhanced 35% refundable tax credit has increased from $3 million to $6 million (up from the previously announced $4.5 million)
    2. For Canadian-controlled private corporations (CCPCs), this means you can now claim up to $2.1 million annually in refundable credits (up from $1.05 million previously, and even higher than the $1.575 million that was expected)
    3. This is a 100% increase in maximum refundable credits – the most significant enhancement to SR&ED in over a decade
  2. Public Company Eligibility
    1. Canadian public corporations can now access the enhanced 35% refundable tax credit on up to $6 million of qualifying expenditures
    2. Previously, public companies were limited to a 15% non-refundable credit
    3. To qualify, public corporations must be Canadian resident, have shares listed on a designated stock exchange, and not be controlled by non-residents
  3. Raised Phase-Out Thresholds
    1. Taxable capital phase-out thresholds increased from $10-50 million to $15-75 million
    2. CCPCs now have the option to use gross revenue-based calculation instead of taxable capital
    3. More mid-sized companies can now access the full enhanced credit as they scale
  4. Capital Expenditures Return
    1. Capital expenditures are once again eligible for both SR&ED deductions and investment tax credits
    2. Applies to property acquired on or after December 16, 2024
    3. Rules generally align with those that existed prior to 2014
    4. This is huge for manufacturers and companies making equipment investments for R&D

Administrative Improvements Coming April 1, 2026:

The budget also announced significant streamlining measures:

  • Elective Pre-Claim Approval Process: Businesses can get upfront technical approval of eligible SR&ED projects before incurring costs
  • Faster Processing: For claims submitted through the elective pre-approval process, expenditure review processing time will be cut in half – from 180 days to 90 days
  • AI-Enhanced Administration: CRA will increase use of AI to speed up claims processing
  • Reduced Information Requirements: The government will engage in targeted consultations to review and simplify Form T661

The Investment: These SR&ED enhancements are expected to cost $3 million in 2025-26, ramping up to $70 million in 2026-27, with a total cost of $293 million over five years.

Productivity Super-Deduction: Lowering Canada’s Tax Burden

Budget 2025 introduces a new “productivity super-deduction” designed to encourage capital investment and boost Canada’s productivity. These measures reduce Canada’s marginal effective tax rate (METR) by more than two percentage points – from 15.6% to 13.2% – maintaining Canada’s position as the lowest in the G7.

Key Measures:

  1. Immediate Expensing for Manufacturing Buildings
    1. New measure allowing 100% first-year write-off for manufacturing or processing buildings
    2. Applies to buildings acquired on or after November 4, 2025 (Budget Day)
    3. Phases out in 2030
    4. Impact: Significantly reduces upfront tax burden for manufacturers investing in facilities
  2. Accelerated Investment Incentive Reinstated
    1. Enhances tax incentives for capital investment
    2. Works in conjunction with immediate expensing measures
  3. New LNG Capital Cost Allowance
    1. Specific allowances for liquefied natural gas (LNG) equipment and related buildings
    2. Supports Canada’s energy infrastructure development

The Investment: The productivity super-deduction measures are projected to cost $45 million in 2025-26, increasing to $280 million next year, with a total cost of $1.5 billion over five years.

Competitive Impact: According to the budget, “with the productivity super-deduction, Canada’s METRs are competitive with those in the U.S. across most sectors, particularly in manufacturing and processing.” This makes Canada the most tax-competitive jurisdiction for new business investment in the G7.

Strategic Response Fund: $5 Billion for Tariff-Impacted Sectors

The budget confirms the $5 billion Strategic Response Fund announced in September 2025, designed to help firms in sectors impacted by U.S. tariffs adapt, diversify, and grow.

Who’s Eligible:

  • For-profit and not-for-profit organizations incorporated in Canada
  • All sectors, with priority focus on those highly exposed to tariffs: steel, aluminum, automotive, lumber, canola
  • Companies in other high-value sectors where federal action is critical to maintaining capacity

What It Funds:

  • Market diversification initiatives
  • Projects to pivot to serve Canadian market demand
  • Retooling plants to boost productivity
  • Design of new products
  • Capacity-building to maintain Canada’s industrial and skills base
  • Costs of accessing new export markets
  • Innovation and technology development projects
  • Large-scale R&D and commercialization

How It Complements SR&ED: The Strategic Response Fund works alongside SR&ED tax credits by providing direct funding support, while SR&ED reduces the cost of R&D activities through tax credits. Companies can leverage both programs – using SRF for capital-intensive pivots and market diversification, while claiming SR&ED credits for the underlying R&D work that makes those transformations possible.

The Investment: $5 billion over six years, starting in 2025-26, with flexible terms tailored to urgent industry needs.

Defense and Security: $30 Billion Investment

Canada is making its largest defense investment in decades with $30 billion over five years. The budget confirms Canada will meet NATO’s 2% GDP spending target this year (five years ahead of schedule) and is on a path to meet NATO’s new 5% Defence Investment Pledge by 2035.

Key Initiatives:

  • $9 billion in defense spending by end of March 2026
  • Defence Investment Agency: New agency to streamline procurement and tie it strategically to domestic industrial benefits
  • Defence Industrial Strategy: Growing Canada’s defense sector and capacity of homegrown suppliers
  • Major pay increase for Canadian Armed Forces members – the most significant in a generation
  • Modernizing fleets, expanding Arctic and maritime surveillance, bolstering cyber and space capabilities

For Tech Companies: This represents massive opportunities for Canadian innovators in:

  • Aerospace and shipbuilding
  • Cybersecurity
  • AI and advanced technologies
  • Quantum computing
  • Dual-use infrastructure
  • Defense-related R&D

The “Buy Canadian” policy announced in the budget means federal procurement will select Canadian suppliers by default, creating additional domestic market opportunities for defense tech companies.

Other Major Investments

Housing: $25 Billion Over 5 Years

  • $13 billion for Build Canada Homes agency (confirmed)
  • Goal: Nearly double homebuilding from 280,000 to 430,000-480,000 homes per year
  • Advanced construction methods to cut timelines by 50%, reduce costs by 20%, and lower construction emissions by 20%
  • GST eliminated for first-time buyers on homes at or under $1 million

Infrastructure: $115 Billion Over 5 Years

  • $2 billion for small nuclear reactors at Darlington, Ontario (confirmed)
  • $5 billion Trade Diversification Corridors Fund to strengthen ports, airports, and railway infrastructure
  • Focus on nation-building projects: clean power grids, expanded ports, critical minerals infrastructure

AI and Sovereign Computing:

  • $925.6 million over five years for large-scale sovereign public AI infrastructure
  • Development of a Sovereign Canadian Cloud
  • Support for AI compute availability for public and private research
  • New AI strategy in development with potential for additional incentives

International Talent Attraction:

  • $1.7 billion International Talent Attraction Strategy to ensure top global talent chooses Canada

What’s Being Cut: $60 Billion in Savings

The Comprehensive Expenditure Review delivers $60 billion in savings over five years, or $13 billion annually by 2028-29. Growth in direct program spending slows from 8% to under 1%.

Major Cuts:

  • Two Billion Trees Program scaled back to one billion (existing contracts honored, uncommitted funds returned)
  • Public Service Reductions: Returning federal workforce to more sustainable levels through attrition and workforce adjustment. Since 2019, the public service grew at an unprecedented rate; this brings growth in line with Canadian population growth
  • Operational efficiency: Restructuring operations, consolidating internal services, rightsizing programs
  • Streamlined delivery: Reducing inefficiency while focusing on core priorities

What’s Protected: Despite spending reductions, the budget maintains funding for:

  • Child care programs
  • Dental care
  • Pharmacare
  • Canada Pension Plan
  • Old Age Security
  • Major transfers to provinces and territories

The government emphasizes minimizing hardship for federal employees while protecting diversity in the public service and ensuring a strong, younger generation of public servants.

Tax Compliance Measures:

  • $77 million over four years to CRA for trucking industry non-compliance enforcement
  • Actions to close tax loopholes and ensure everyone pays their fair share
  • Expected positive fiscal impact of $1.1 billion annually from 2028-29 onwards

What This Means for Your Business

For Canadian-Controlled Private Corporations (CCPCs)

The Game-Changer: Your maximum refundable SR&ED credits have doubled from $1.05 million to $2.1 million annually.

What This Means:

  • If you’re currently maxing out at the $3 million expenditure limit, you can now claim on $6 million – a potential $1.05 million boost to your annual cash flow
  • The 35% enhanced refundable rate now applies to twice as much spending
  • Extended phase-out thresholds ($15-75M) mean you can maintain eligibility longer as you scale
  • New gross revenue calculation option provides flexibility as your business grows

Capital Expenditure Impact: With capital expenditures back, you can now claim SR&ED credits on:

  • Equipment and machinery purchased for R&D activities
  • Specialized tools and apparatus
  • Laboratory equipment
  • Testing and prototyping equipment
  • Property acquired on or after December 16, 2024

Combined with Productivity Super-Deduction: CCPCs conducting R&D can now benefit from:

  1. Up to $2.1M in refundable SR&ED credits on qualifying R&D expenses
  2. Immediate expensing on manufacturing/processing buildings (if applicable)
  3. Accelerated capital cost allowances on equipment
  4. This triple benefit significantly improves cash flow and reduces the cost of innovation

For Public Companies

Historic Change: For the first time, Canadian public corporations can access the enhanced 35% refundable tax credit on up to $6 million of qualifying R&D expenditures.

What This Means:

  • Previously limited to 15% non-refundable credits, public companies can now receive cash back from R&D investments
  • Up to $2.1 million in refundable credits annually (35% of $6M)
  • This represents up to a 133% increase in credit value plus the benefit of refundability
  • Levels the playing field between public companies and CCPCs for R&D support

Eligibility Requirements:

  • Canadian resident corporation
  • Shares listed on a designated stock exchange (or elect to be a public corporation)
  • Not controlled by non-residents

Strategic Impact: Public companies that have been stuck with non-refundable credits that could only offset taxes payable can now:

  • Receive immediate cash refunds for R&D investments
  • Better manage cash flow during growth phases
  • Compete more effectively for R&D talent and projects
  • Scale R&D operations without waiting to generate taxable income

This change is particularly significant for public companies in pre-revenue or low-margin phases, where non-refundable credits provided limited immediate value.

For Manufacturers

Manufacturing companies are the biggest winners in Budget 2025, benefiting from multiple complementary programs:

SR&ED Capital Expenditure Eligibility: Manufacturing R&D often involves significant capital investments. With capital expenditures back in SR&ED:

  • Equipment, machinery, and apparatus for R&D qualify for credits
  • Prototyping equipment and testing machinery eligible
  • Process innovation tools and automation equipment included
  • Can claim both the deduction and investment tax credit

Productivity Super-Deduction Benefits:

  • 100% immediate expensing for manufacturing/processing buildings acquired after November 4, 2025
  • Accelerated Investment Incentive for other capital investments
  • New capital cost allowances for LNG equipment
  • Canada’s METR drops to 13.2% – the lowest in the G7 and competitive with the U.S.

Triple Benefit Example: A manufacturing CCPC investing in R&D automation could:

  1. Claim up to $2.1M in refundable SR&ED credits on qualifying R&D expenses (including eligible capital equipment)
  2. Immediately expense 100% of a new manufacturing facility
  3. Access Strategic Response Fund support for retooling or market diversification

Sectors Most Impacted:

  • Steel and aluminum manufacturers (also eligible for Strategic Response Fund)
  • Automotive suppliers and manufacturers
  • Advanced manufacturing and Industry 4.0 adopters
  • Process innovation companies
  • Clean technology manufacturers

For Scale-ups and Growth Companies

Extended Runway for Enhanced Credits: With phase-out thresholds raised from $10-50M to $15-75M in taxable capital:

  • Maintain access to enhanced 35% refundable credits longer as you grow
  • $6 million expenditure limit provides more support through scaling phase
  • Gross revenue calculation option offers flexibility for capital-intensive businesses

AI and Tech Companies:

  • $925.6 million sovereign AI infrastructure investment creates compute capacity
  • International Talent Attraction Strategy ($1.7B) helps recruit global talent
  • Potential for additional AI incentives as new strategy develops
  • SR&ED credits complement AI infrastructure investments

Clean Tech and Critical Minerals:

  • Expanded Clean Technology Manufacturing ITC (includes new critical minerals)
  • CCUS investment tax credits extended with full rates through 2035
  • Critical Mineral Exploration Tax Credit expanded
  • $2 billion Critical Minerals Sovereign Fund for strategic investments
  • Climate Competitiveness Strategy provides additional pathways

Export and Market Diversification: Companies ready to scale internationally benefit from:

  • Trade Diversification Strategy targeting $300B more in trade over decade
  • $5B Trade Diversification Corridors Fund for infrastructure
  • New Strategic Exports Office to support international expansion
  • EDC’s $5B Trade Impact Program offering export tools
  • SR&ED credits can support R&D for market-specific product adaptations

Regional and Sector-Specific Measures

Buy Canadian Policy: Federal procurement will select Canadian suppliers by default wherever possible, with requirements for:

  • Local content when domestic suppliers unavailable
  • Extension to all federal funding streams and Crown corporations
  • Roadmap for provinces and municipalities to apply similar standards

Sector Support:

  • Steel: Strategic Response Fund support to increase competitiveness
  • Aluminum: Support to modernize smelters and open new markets
  • Automotive: Flexibility by waiving 2026 model year vehicles from EV Availability Standard requirements, 60-day review to reduce costs
  • Lumber & Canola: Working to restore and expand market access
  • Agriculture: $370M+ biofuel production incentive, Clean Fuel Regulations amendments, increased Advance Payments Program limits

Regional Initiatives:

  • Regional Tariff Response Initiative providing support across provinces and territories
  • Trade Diversification Corridors Fund ($5B over 7 years) to strengthen regional supply chains
  • Dual-use infrastructure in the North (ports, airport runways) working with Inuit and First Nations partners

Employment and Workforce Measures

The budget includes comprehensive workforce support:

Tariff-Impacted Workers:

  • $3.7 billion over three years for temporary EI measures enhancing income supports
  • Reskilling package for up to 50,000 workers
  • $370.5 million over five years for EI Work-Sharing program flexibilities
  • New Workforce Innovation Fund for projects tailored to local job markets
  • New digital jobs and training platform with private-sector partners

Talent Development:

  • $97 million over five years for Foreign Credential Recognition Action Fund
  • 175,000 placements through Canada Summer Jobs, Youth Employment and Skills Strategy, and Student Work Placement Program in 2026-27
  • Youth Climate Corps to transition young Canadians into workforce
  • Workforce Alliances to align training with industry needs

Climate and Energy Transition

While the Two Billion Trees program is scaled back to one billion trees, the government is pivoting toward a comprehensive Climate Competitiveness Strategy:

Energy Infrastructure:

  • $370 million biofuel production incentive for domestic producers
  • Clean Fuel Regulations amendments to support domestic biofuels industry
  • Clean Economy Investment Tax Credits to supercharge net-zero energy projects
  • Focus on nuclear, solar, wind, clean hydrogen, and renewable energy
  • Positioning Canada as “energy superpower” in both clean and conventional energy

Investment Tax Credits:

  • Clean Technology Manufacturing ITC expanded (includes antimony, indium, gallium, germanium, scandium)
  • CCUS ITC extended – full rates (37.5-60%) apply through 2035
  • Critical Mineral Exploration Tax Credit expanded (includes bismuth, cesium, chromium, tin, tungsten)
  • $2 billion Critical Minerals Sovereign Fund for strategic investments

For Innovation Companies: These measures create opportunities in:

  • Clean technology R&D and manufacturing
  • Energy efficiency innovations
  • Sustainable materials development
  • Clean hydrogen production
  • Carbon capture and storage technologies
  • Critical minerals processing and refinement

What Happens Next

Parliamentary Approval

The minority Liberal government needs at least three opposition MPs to support the budget (or two if the Speaker breaks a tie, accounting for abstentions).

Current status:

  • Conservatives: Have demanded deficit stay at $42B or below, unlikely to support given expected deficit levels
  • Bloc Québécois: Demanding increased OAS, health transfers, and infrastructure spending
  • NDP: Reviewing cuts before deciding; abstentions possible for some MPs

A budget defeat would trigger a federal election before Christmas.

Timeline for Implementation

Immediate (November 4, 2025 – Budget Day):

  • Productivity super-deduction for manufacturing buildings applies to acquisitions on or after Budget Day

December 16, 2024 (retroactive):

  • SR&ED expenditure limit increase to $6 million
  • Public company SR&ED eligibility
  • Raised phase-out thresholds
  • Capital expenditure eligibility restoration
  • All apply to taxation years beginning on or after this date

April 1, 2026:

  • SR&ED administrative improvements take effect
  • Elective pre-claim approval process available
  • AI-enhanced claims processing
  • Reduced processing times (90 days for pre-approved claims requiring expenditure review)
  • Form T661 simplification consultations

2028-29:

  • Operational budget balanced
  • All deficits support capital investments only
  • $13 billion in annual savings fully realized

2030:

  • Productivity super-deduction for manufacturing buildings phases out

2035:

  • Canada on path to meet NATO 5% Defence Investment Pledge
  • CCUS ITC review (full rates continue through 2035, then reduced rates 2036-2040)

Expert Perspective: Building on SR&ED Success

As we’ve previously written, the anticipated SR&ED enhancements represent the most significant program improvements in years. However, maximizing these benefits requires strategic implementation with proper safeguards.

Key considerations:

  • Quality matters: Enhanced credits are valuable, but claims still require robust documentation
  • Multi-program optimization: SR&ED works best when coordinated with other incentives (CDAE, IDMTC, Cleantech credits)
  • Audit protection: Higher claims attract more scrutiny; professional support becomes even more critical

What You Should Do Now

Immediate Actions

  1. Assess Your SR&ED Opportunity NOW
    1. With the $6 million limit, you can potentially claim double what you claimed before
    2. Review your current R&D activities to identify all qualifying work
    3. Capital equipment purchases made after December 16, 2024 may now qualify
    4. Public companies: Evaluate the switch from non-refundable to refundable credits
  2. Review Equipment and Capital Needs
    1. Capital expenditures are back in SR&ED – planned equipment purchases may now qualify for significant tax benefits
    2. Consider timing of major capital acquisitions to maximize benefits
    3. Manufacturing buildings acquired after November 4, 2025 qualify for immediate 100% expensing
  3. Check Your Eligibility Status
    1. If you’re approaching or exceeded previous thresholds ($10-50M), you may now qualify with new $15-75M thresholds
    2. Consider gross revenue vs. taxable capital calculation option
    3. Public companies: Confirm your eligibility for enhanced refundable credits
  4. Optimize Across Multiple Programs
    1. SR&ED can work alongside Strategic Response Fund, productivity super-deduction, and other ITCs
    2. Map out your total innovation funding strategy
    3. Consider how Buy Canadian policy may create new domestic market opportunities
  5. Consider Pre-Approval Process (Starting April 2026)
    1. New elective pre-claim approval provides upfront certainty
    2. Reduces processing time by 50% for approved projects
    3. Worth exploring for larger or more complex claims
  6. Document Everything
    1. Higher claims = more scrutiny
    2. Robust documentation remains critical regardless of program enhancements
    3. Start building your audit defense NOW, not during an audit

Strategic Planning

For 2026 and Beyond:

Multi-Year R&D Planning:

  • With $6M annual limit, structure R&D programs to maximize credits each year
  • Consider phasing major initiatives to optimize credit timing
  • Plan capital equipment acquisitions strategically now that they qualify

Growth Trajectory Optimization:

  • Extended phase-out thresholds mean you can plan for growth without losing enhanced credits prematurely
  • Model when you’ll hit $15M and $75M thresholds
  • Consider gross revenue vs. taxable capital calculation as you scale

Diversification Strategy:

  • Trade Diversification Strategy creates opportunities in new markets
  • SR&ED can support R&D for market-specific product adaptations
  • Strategic Response Fund available for market diversification initiatives

Capital Investment Decisions:

  • Productivity super-deduction phases out in 2030 – creates window for major manufacturing facility investments
  • Immediate expensing can significantly reduce after-tax cost of expansion
  • Combined with SR&ED capital eligibility, creates compelling case for equipment-intensive R&D

Export and International Expansion:

  • $300B target for increased overseas trade creates market opportunities
  • Trade Diversification Corridors Fund improves access to international markets
  • R&D for export markets can qualify for SR&ED
  • EDC Trade Impact Program provides export financing tools

Sector-Specific Considerations:

  • Defense tech: $30B defense investment + Buy Canadian policy = domestic market opportunity
  • AI/Tech: Sovereign cloud investment + potential new AI incentives
  • Clean tech: Multiple ITCs + Climate Competitiveness Strategy
  • Manufacturing: Triple benefit of SR&ED + super-deduction + Strategic Response Fund
  • Critical minerals: Expanded ITCs + $2B sovereign fund

Boast’s Take: A Transformational Moment for Canadian Innovation

Budget 2025 represents the most significant enhancement to Canada’s R&D tax credit landscape in over a decade. The doubling of the SR&ED expenditure limit to $6 million, combined with the return of capital expenditure eligibility and extension to public companies, fundamentally changes the value proposition of R&D in Canada.

Why This Matters:

These aren’t incremental tweaks – they’re transformational changes that:

  • Double the cash-back potential for companies maxing out their SR&ED claims
  • Level the playing field between private and public companies
  • Recognize the capital-intensive nature of modern R&D by reinstating equipment eligibility
  • Extend the runway for growing companies with raised phase-out thresholds
  • Demonstrate government commitment with $293 million in additional investment

The Complexity Increases Too:

With greater benefits comes greater complexity:

  • Optimizing across SR&ED, productivity super-deduction, Strategic Response Fund, and sector-specific ITCs requires strategic coordination
  • Capital expenditure eligibility reinstatement brings back rules that haven’t been used since 2014
  • Higher claim values will attract more CRA scrutiny
  • Multi-program strategies need careful documentation and compliance

Technology + Expertise Matters More Than Ever:

At Boast, we’ve always believed that maximizing R&D tax credits requires the right combination of technology and human expertise. With these budget enhancements, that combination becomes even more critical:

  • Cutting-edge automation to track qualifying activities across expanded expenditure categories (including capital equipment)
  • Deep R&D tax expertise from specialists who understand how to optimize across multiple programs
  • Comprehensive audit protection with SOC II compliance and documentation systems that can handle the increased scrutiny of larger claims
  • Year-round platform access for continuous optimization across SR&ED, Strategic Response Fund applications, and other innovation funding sources

The government’s commitment to streamlining SR&ED administration through pre-approval processes and AI-enhanced processing aligns perfectly with Boast’s mission: combining technology with expertise to simplify access to innovation funding.

Resources and Next Steps

Official Budget Documents:

Program Information:

Get Expert Guidance: The SR&ED enhancements are transformational, but maximizing benefits requires expertise. With $6 million in potential qualifying expenditures and capital equipment back in play, professional guidance is more valuable than ever.

Ready to maximize your R&D investments under Budget 2025’s enhanced programs? Connect with our team to:

  • Calculate your potential credits under the new $6M limit
  • Assess capital expenditure eligibility
  • Optimize across SR&ED, Strategic Response Fund, and productivity super-deduction
  • Develop a comprehensive innovation funding strategy
  • Ensure audit-ready documentation from day one

Read More:

This article was published November 4, 2025 following the tabling of Budget 2025. Analysis is based on the official budget documents and may be updated as additional technical details are released.

About Boast

Boast specializes in helping organizations claim and access eligible R&D tax credits, minimizing audit risks and time-consuming processes in Canada and the United States. Boast combines in-house technical and R&D tax expertise with the latest AI technology to help companies effortlessly navigate the complexities of tax credits, enabling them to focus on what they do best: Innovate.

Since Boast’s founding in 2011, we’ve helped more than 1,700 businesses across North America tap into more than $625 million in innovation capital to build stronger products, extend their runway, and drive world-changing innovation.