The Federal Liberal government in Canada is looking to come out with small business tax. It looks like the Justin Trudeau lead government is not in favor of business investments in the country. It is looking to get rid of the jobs out of Canada. The Prime Minister of Canada, Justin Trudeau, still is not looking for business developments in Canada. Many say that he is following an anti-business mantra.
The spring budget will see the Liberal government bring to the table a change in the taxation of the income earned by the Canadian-controlled private corporations (CCPCs). The proposal is made in such a way that many cannot understand it.
The main crux of the new law is that there will be some changes to the arcane tax laws like dividend gross-ups, refundable taxes, and credits. The end result of the new taxation law is that the taxes will be equal to all CCPC’s investment income. The tax will be different for the earning that a salaried employee gets.
Trudeau in his speech at the World Economic Forum in Davos in January said that many corporations are putting their quest for earning better profits in front of the welfare of the workers. In order to earn good profits, they avoid taxes. So, the government will look to drive away such business from its country.