Ottawa to cut small business tax rate to 9% by 2019
Ottawa announced its plans today to cut the small business tax rate from 10.5 per cent to nine per cent by 2019, as it attempts to quell a backlash to proposed tax reforms that have stung the Trudeau government.
The drop, first announced during the lead-up to the 2015 election campaign, would first lower to 10 per cent on Jan. 1, 2018, and then down to nine per cent on Jan. 1, 2019.
Finance Minister Bill Morneau's move to reduce the tax rate paid by small businesses comes at a time when his government is deflecting criticism of proposed tax reforms that have angered small business owners, who said the changes would hurt the same middle-class Canadians the government is purporting to help. Some premiers and Liberal backbenchers also objected to the reforms.
Ottawa to cut small business tax rate to 9% by 2019 - Politics - CBC News