Next phase of business tax relief (the best move this government has made in...well...ever) kicks in after Canada Day. Spread the word.
Specific tax reductions this year include:
Reducing the general Corporate Capital Tax rate on existing capital from
0.3 per cent to 0.15 per cent on July 1, 2007 and fully eliminating it on July 1, 2008;
Reducing the general Corporate Income Tax rate from 14 per cent to 13
per cent on July 1, 2007 and reducing it further to 12 per cent on July 1, 2008; and
Increasing the small business threshold from $400,000 to $450,000 on July 1, 2007, and increasing it further to $500,000 on July 1, 2008.