Martin Lee and Thanusan Raveendran, in a recent article published in the Canadian Tax Foundation’s Tax Focus publication, discuss a possible anomaly in the small business deduction rules. The authors highlight the anomaly using several examples and highlight several tax planning possibilities. Please click here to read their article.
How the Capital Gains Inclusion Rate Increase Can Also Increase Tax on Small Business Income
June 22, 2024
In this article, we explain how the recent changes in capital gains rates will impact small businesses in Canada. They will affect not only how much they pay in taxes on capital gains but also their regular business income.
