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CFIB commends Ontario for rejecting federal small business tax change on passive investment income

from Cision

The Canadian Federation of Independent Business (CFIB) is calling on all provinces to follow Ontario's lead by keeping access to the provincial small business tax rate open for businesses affected by new federal tax rules on passive investment income. CFIB's call came after the new Ontario government announced that it will reverse the previous provincial budget measure to begin taxing small firms at the large corporate level if they earn more than $50,000 in passive investments income each year. The previous Ontario government adopted the new federal rules in its spring budget. more

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