Lower Taxes for Small Business Owners
May 17, 2019
Small businesses drive the Canadian economy — creating jobs, supporting our communities. Small businesses make up 98% of all Canadian businesses and employ over 8 million hard-working Canadians from coast to coast to coast.
That’s why, as promised, the Liberal government has lowered the small business tax rate to 9%, providing a small business with up to $7,500 in federal tax savings per year that can be reinvested to help it grow.
By cutting the small business tax rate to 9%, Canada will continue to have the lowest tax rate among all of the G7 countries — and the 4th lowest in the OECD. This is possible because we know we can make the tax system fair, ensuring low taxes are used to invest, grow, and create jobs.
In 2015, Canadians elected us to build an economy that works for everyone.
These tax measures will help us do that.