Three ways Canada's 2025 federal budget could save you money
This year’s federal budget for 2025 is filled with proposals from the government that aim to put money back in Canadians’ pockets.
Among the proposed changes, the government aims to put more money in Canadians’ hands by covering application costs for the Canada Disability Benefit with a one-time payment. The government also wants to build on the success of the Canada Strong Pass, which, over the summer, allowed Canadians to enjoy cheaper access to train travel, parks, museums, and galleries.
And not forgetting everyday expenses, the government has announced plans to review bank and ATM fees. Here’s how the latest proposals could benefit Canadians.
Easier access to the Canada Disability Benefit
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In June this year, eligible Canadians started receiving payments for the Canada Disability Benefit, which supports working-age Canadians with disabilities aged 18 to 24. However, to be eligible, a person must have a valid Disability Tax Credit (DTC) certificate, a non-refundable tax credit that’s meant to reduce the income tax paid by Canadians with physical or mental impairments, or their supporting family members. However, obtaining this certificate can cost money.
The government said it wants to lower these barriers by covering the cost of applying for the DTC, and it’s allocating $115.7 million over four years to do so. Eligible Canadians will receive a one-time supplemental Canada Disability Benefit payment of $150 in respect of each Disability Tax Credit certification, or re-certification. The one-time payment would be retroactive to the launch of the Canada Disability Benefit.
Renewing the Canada Strong Pass
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The Canada Strong Pass made exploring the country a lot more affordable. This summer, it allowed families and young people to travel by train and visit national parks, museums, and galleries for free or at a discount.
As a result, VIA Rail ridership went up by 6.5 per cent, Parks Canada saw a 10 per cent increase in visits, and museums welcomed 15 per cent more visitors. As announced in October, Prime Minister Mark Carney revealed that the Canada Strong Pass would be extended for the holidays and Summer 2026. The pass will be renewed from Dec. 12, 2025, to Jan. 15, 2026, and then again for Summer 2026.
Budget 2025 proposes to provide $116.3 million over two years, starting in 2025 to 2026.
“Reduced-cost access over this holiday season is already in place through several Canada Strong Pass partners, including for eligible VIA Rail travel,” reads the proposal.
A closer look at bank and ATM fees
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According to the latest federal budget, the government will address “consumer pain points and unnecessary costs.”
The government said it plans to do this by reviewing fees charged by banks and other federally regulated financial institutions, including Interac e-Transfer fees and ATM fees.
“We will use every tool and agency at our disposal to address any unjustified fees and pain points for Canadians,” reads the proposal. “We will provide an update on this work in 2026.”
In addition to cutting costs for Canadians, one expert weighed in on how the latest federal budget could affect your taxes.