Ontario Finance Minister Charles Sousa delivered the province’s 2017 budget on April 27, 2017.
The province’s 2017 budget is balanced, with projected balanced budgets for 2018 and 2019. Although there are no changes to the province’s personal or corporate tax rates, the budget introduces measures to prevent the multiplication of the Employer Health Tax exemption and adjusts the calculation of the provincial surtax and Ontario Tax Reduction for multijurisdictional filers, among other changes. The budget also announces that Ontario will conduct a review of tax planning strategies involving private corporations.
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