Canadian Plastics

Budget promises tax relief for small businesses

There was some good news for small- and medium-sized businesses in this year's federal budget in the form of lower taxes. Some of the highlights include: A reduction of the corporate tax rate from 28...

May 1, 2000   Canadian Plastics



There was some good news for small- and medium-sized businesses in this year’s federal budget in the form of lower taxes. Some of the highlights include:

A reduction of the corporate tax rate from 28 percent to 21 percent within five years for sectors currently facing the highest tax rates, beginning with a reduction to 27 percent on January 1, 2001

A reduction of the tax rate on small business income between $200,000 and $300,000 from 28 percent to 21 percent, effective January 1, 2001.

Allowing for the tax-free rollover of capital gains on qualified investments from one small business to another.


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