November 06, 2017

The Federal Government recently announced further changes related to the tax treatment of small businesses. We wanted to ensure members are aware of these positive changes. Highlights include:

  • Small business tax rate to fall from 10.5% to 10%, effective January 2018
    • Small business tax rate to fall to 9%, effective January 2019
    • Implement a gender-based analysis on the legislation moving forward
    • Ensuring tax changes do not impact the transfer of family business
    • Abandoning the plan to limit access to lifetime capital gains exemption
    • Will continue to pursue restrictions on income sprinkling, but simplify the proposal

Read the full release: http://www.fin.gc.ca/n17/17-097-eng.asp


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