OTTAWA, Nov. 4, 2026: Finance Minister François-Philippe Champagne will table Budget 2026 on Thursday, November 5, 2026, the Department of Finance Canada announced on October 20. For landlords and tenants across Canada, its measures are proposals: nothing changes for a rental until they are enacted.
What happens on November 5?
The Department of Finance will hold an embargoed reading and a press conference before the release, with logistics shared through the Parliamentary Press Gallery. The notice does not give a time of day, so check the department's channels on the day.
What is already on the table for rental housing?
Measures announced, and some legislated, before this budget:
- Build Canada Homes. The federal housing agency launched on September 14, 2025, with an initial $13 billion over five years, according to a Housing, Infrastructure and Communities Canada release. The Build Canada Homes Act (Bill C-20) received Royal Assent on June 18, 2026 and makes it a Crown corporation. In its June 19 release, the government said further orders and appointments were still needed and that it expected full operation later in 2026.
- GST relief on new purpose-built rentals. The CRA's purpose-built rental housing rebate refunds 100% of the GST, or the federal part of the HST, on qualifying new rental buildings. Construction must begin after September 13, 2023 and before 2031, and the building must be substantially completed before 2036. At least 90% of its units must be held for long-term rental. Condominium units, duplexes and triplexes do not qualify.
- GST relief for first-time buyers. Bill C-4 received Royal Assent on March 12, 2026. The Department of Finance says it eliminates the GST for first-time buyers on new homes up to $1 million and reduces it on new homes between $1 million and $1.5 million.
- The Underused Housing Tax. Under the Underused Housing Tax Act as amended in March 2026, no tax is payable (s. 1.1) and no return is required (s. 6.1) for a residential property for 2025 and later calendar years. The change does not cover 2022 to 2024.
What has the Parliamentary Budget Officer projected?
In its Economic and Fiscal Outlook of October 20, 2026, the Parliamentary Budget Officer (PBO) projected a federal deficit of $63.3 billion (1.8% of GDP) in 2026-27. It projected a peak of $70.2 billion in 2027-28 and $67.8 billion by 2030-31. The PBO expects the government to meet its operating budget anchor in 2028-29, with a $6.2 billion surplus, but not its anchor of declining deficits relative to GDP.
What it means for landlords: what to watch for
Questions to check in the budget documents:
- Rental income: does anything change in how rental income and expenses are reported? See our guide to the T776 form for rental income.
- Capital cost allowance: are there new rates, classes or timing rules for rental buildings? Our guide to capital cost allowance covers the current rules.
- Capital gains: is there any change to how a gain on selling a rental property is taxed?
- GST on new rentals: do the rebate's dates or conditions change?
- Housing programs: what new funding or terms are set for Build Canada Homes and housing infrastructure?
What it means for tenants: what to watch for
The Canada Housing Benefit is a National Housing Strategy program. It is funded by the Government of Canada and cost-matched by the provinces and territories, for a total of $4 billion over 8 years, and it pays a portable rent subsidy directly to households. Check whether the budget changes it or proposes other renter supports. The Canadian Tenant Resource Center collects our tenant guides.
What to do now
- Change nothing yet. A budget proposal is not law until it is enacted. Budget 2025, tabled on November 4, 2025, was implemented in part by the Budget 2025 Implementation Act, No. 1, which received Royal Assent on March 26, 2026.
- Read the official documents. Check each measure, its proposed start date and whether it needs legislation.
- Keep records current. Have rental income, expenses and purchase costs organised.
- Follow up with us. We will report what Budget 2026 contains after it is tabled. Landlord guides are collected in the Canadian Landlord Resource Center.
Keep your rental paperwork in order
Whatever the budget proposes, current leases, notices and records make any change easier to apply.
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