Canada: Proposal to reduce small business rate | KPMG | GLOBAL

Canada: Proposal to reduce small business rate, other tax changes

Canada: Proposal to reduce small business rate

The Department of Finance on 24 October 2017 announced a proposal to reduce Canada’s small business tax rate.

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The update also proposes to make adjustments to the dividend tax credit rate and to enhance the Canada child benefit, among other changes. Finance recently announced that it would reduce its small business tax rate along with other changes it intended to make to its proposals on the taxation of private companies. This update reaffirmed Finance’s intentions to clarify and cancel certain aspects of these proposals, but it did not provide any further information.

 

Read an October 2017 report prepared by the KPMG member firm in Canada

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