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Opinion

Private corporation tax proposals could make financing conditions worse for small business

By Ian C.W. Russell      

The government’s proposed measures will discourage the specialized large private corporations from undertaking advisory and financing activities in the small business sector.

Minister of Finance Bill Morneau, pictured May 16 leaving the National Press Theatre in Ottawa where he announced the government is willing to 'provide indemnity' to any investors to ensure the Trans Mountain pipeline is built. The Hill Times photograph by Andrew Meade

Last summer, the federal government announced a series of tax proposals aimed at making private corporations “pay their fair share of tax.” After a contentious consultation process, a revised version of the new rules came forward in the February 2018 budget. The reaction to the budget proposals has been relatively muted, and, on balance, positive, largely because the proposals shelter small businesses qualifying for the small businesses deduction from the proposed increase in the effective tax rate on passive income, and because the government announced plans to lower the small business tax rate to nine per cent by 2019.

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AFN’s call for Indigenous voters to be election ‘kingmakers’ challenged by lack of voter enthusiasm, say chiefs and politicos

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Green Party targets Prince Edward Island seats in rare campaign trip by leader Annamie Paul

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