2018 Provincial Budget

2018 Provincial Budget On Wednesday, March 28, the Government of Ontario presented its 2018 budget. This budget included a number of important announcements including: approximately $450 million in new taxes for business over the next three years; investments in skills development, including $170 million for Ontario’s Apprenticeship Strategy; and a $500 million investment in broadband…

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Corporate Tax Changes Update

Corporate Tax Changes Update Since the federal government released its July 2017 discussion paper on changes to corporate taxation, much has happened. The chamber network across Canada spoke up and made its concerns known. Among other things, your chamber sent a letter to Minister of Finance Bill Morneau, hosted a luncheon to educate business owners on the impacts of…

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Bill 148: Changes Coming January 1

Bill 148 and Offsets for Small Business On Tuesday, November 14, the Government of Ontario released its 2017 Fall Economic Statement. As part of this statement, the government announced $500 million in new initiatives for small businesses. These initiatives include: – cutting the small business Corporate Income Tax (CIT) rate from 4.5% to 3.5%, creating savings of…

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Bill 148 Update And Handbook

Bill 148 Update and Handbook On Wednesday, October 18, Bill 148, the Fair Workplaces, Better Jobs Act, passed second reading in the Ontario legislature. The legislation has gone back to committee for more amendments and to consider sectoral exemptions to labour and employment standards. At the same time, we have prepared a handbook for employers to help them…

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Tax Wins For Small Business!

Tax Wins for Small Business! Last week, Minister of Finance Bill Morneau announced a series of revisions to the federal government’s proposed corporate tax changes as well as a reduction to the small business tax rate. This announcement is a significant win for the business community and is a result of the hard work of business owners…

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