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  • Extracts from the Budget Plan and the Tax Measures: Supplementary Information of the Minister of Finance of Canada:

    • In October 2017, the Government announced it would lower taxes on small businesses from 10.5 per cent to 9 per cent by 2019.

    • It is proposed that the small business deduction limit be reduced by $5 for every $1 of investment income above the $50,000 threshold. Under this proposal, the tax applicable to investment income remains unchanged—refundable taxes and dividend tax rates will remain the same, unlike the July 2017 proposal. No existing savings will face any additional tax upon withdrawal, thereby maintaining the Government’s commitment to protect the tax treatment of all past savings and investments

    • Budget 2018 proposes that CCPCs no longer be able to obtain refunds of taxes paid on investment income while distributing dividends from income taxed at the general corporate rate. Refunds will continue to be available when investment income is paid out.

    • To better align the refund of taxes paid on passive income with the payment of dividends sourced from passive income, Budget 2018 proposes that a refund of RDTOH be available only in cases where a private corporation pays non-eligible dividends. An exception will be provided in respect of RDTOH that arises from eligible portfolio dividends received by a corporation, in which case the corporation will still be able to obtain a refund of that RDTOH upon the payment of eligible dividends. The different treatment proposed regarding the refund of taxes imposed on eligible portfolio dividend income will necessitate the addition of a new RDTOH account

    • The two measures will apply to taxation years that begin after 2018.

  • 2018 Automobile Deduction Limits and Expense Benefit Rates

  • EI premium rates and maximums

  • Reduced rate of the contribution to the health service fund for small and medium size businesses

  • Rates, thresholds and amounts related to source deductions and contributions for 2018

  • Interest rates for the first calendar quarter

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