In the summer of 2017, the federal government proposed the most drastic overhaul of the tax system in decades. These changes would have hurt small business owners by increasing your tax burden and adding complex red tape—so we fought back, and so did you.
In reaction to pressure from CFIB and small business owners like you, the government announced that it would make some adjustments to the sweeping tax changes it proposed, and then made further changes in the 2018 budget. There was some good news as some proposed measures were taken off the table and the government reinstated its promise to lower the small business tax rate. But other changes may be a concern for you if you use them in your business.
Here are some of the major changes: