Canada targets the ‘number one criticism’ of doing business here with a new tax shakeup as Mark Carney’s investment summit kicks off

Canada is fast-tracking CRA tax rulings for investments of $1 billion or more to help attract $1 trillion.

Prime Minister Mark Carney delivers remarks to Canadian business leaders at the Canada Investment Summit welcome reception, in Toronto, on Sunday, Sept. 13, 2026.

Prime Minister Mark Carney’s inaugural Investment Summit kicked off in Toronto on Monday with the federal government unveiling a tax policy reform poised to streamline capital coming into Canada, while two Canadian banks pledged billions in future investments. 

During a conference held by American think tank Milken Institute, just steps away from the main summit event, Finance Minister François-Philippe Champagne teased that more policy announcements are coming in support of the government’s goal to attract $1 trillion in new investment to Canada over the next five years. 

“What we need to do now is to move from intention to investment, and (from) investment to projects,” he told a room full of investors.  

Finance Minister François-Philippe Champagne said the world is looking at Canada with a "different eye."

Monday’s policy shakeup will have the Canada Revenue Agency (CRA) prioritize advance income tax ruling requests related to investments of $1 billion or more in Canada. 

The government says that this will help large investors have greater clarity on how Canadian taxes would apply to their investments before they commit any capital. 

“It is a big deal,” Walid Hejazi, professor of economic analysis and policy at the Rotman School of Management, told the Star. 

“These advance rulings are very, very important. They’re legally binding,” he said, adding that “the number one criticism of doing business in Canada is dealing with an inefficient and bureaucratic Canadian government.” 

Hejazi says he suspects that Monday’s announcement is “one part of a broader set of commitments of the federal government.” 

Speaking with reporters at the Milken Institute’s event, Champagne said that the world has been looking at Canada “with different eyes.” 

“This is a moment to say, how can we modernize our approach when it comes to financing infrastructure around the country?”