UPDATE - Department of Finance Press Release on Small Business Tax Changes

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On October 16, 2017 the Department of Finance issued a press release to summarize announcements made by Prime Minister Justin Trudeau and Finance Minister Bill Morneau. Please visit the following link for more information about today’s release http://www.fin.gc.ca/n17/17-097-eng.asp . Prime Minister Trudeau committed to offering additional clarification on specific topics at events celebrating BDC Small Business Week throughout the remainder of the week.

Our dedicated team of professionals have been working hard to advocate and advise our clients on navigating the proposed legislation since it was unveiled on July 18, 2017. While today’s announcement suggests changes are forthcoming, we eagerly anticipate clarification on these matters. Amended proposed legislation has not currently been provided by the Department of Finance. As more details become available, we look forward to working with our clients and community to address the new tax landscape.