When you have an economy that works for the middle class, you have a country that works for everyone. The Government of Canada has already taken the first steps by lowering taxes for middle class Canadians, and is committed to ensuring that unintended advantages are not being used by high-income and wealthy individuals to pay less than their fair share in taxes.
Prime Minister Justin Trudeau, Finance Minister Bill Morneau and Small Business and Tourism Minister Bardish Chagger today announced that, as it has committed, the Government intends to lower the small business tax rate to 10 per cent, effective January 1, 2018, and to 9 per cent, effective January 1, 2019. To support this change, the Government will take steps to ensure that Canadian-controlled private corporation (CCPC) status is not used to reduce personal income tax obligations for high-income earners rather than supporting small businesses. Read more
