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Posted Thursday November 7, 2019


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Small Business

Ontario Drops Small Business Tax Rate for 2020

Ontario’s Minister of Finance Rod Phillips announced that Ontario will decrease the small business tax rate to 3.2% (from 3.5%). The province’s Fall Economic Update, released on November 6, 2019, also increases the non-eligible dividend tax rate for individuals and reduces the tax rate on aviation fuel for certain northern regions. These changes are effective as of January 1, 2020.

Source KPMG









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ISSN 0824-45
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