Economy | Taxes

Reduce the small business tax rate to 9% (from 11%).

Broken

Source: Liberal Platform | Page 80

October 5, 2015

Wednesday March 23, 2016 | CBC News

Bill Morneau defends Liberal's unchanged corporate tax rate

As small businesses lob accusations at the federal government for failing to deliver on a corporate tax cut, Finance Minister Bill Morneau says the Liberals' budget is helping business by helping customers.

With their 2016 budget, the Liberals reneged on a campaign promise to cut the corporate tax rate to nine per cent by 2019, choosing instead to fix the rate at 10.5 per cent.

In a statement, a "deeply troubled" Canadian Federation of Independent Business estimated that this broken promise would cost small firms more than $900 million per year by 2019.

Tuesday March 22, 2016 | 2016 Federal Budget

2016 Federal Budget

Chapter 8 > Small Business Income Tax Rate

Budget 2016 proposes that further reductions in the small business income tax rate be deferred.