March 12, 2018

Budget 2018: Top takeaways for small businesses

When it comes to the 2018 budget, here are some top takeaways for small businesses in Canada. First, we now have passive investment income clarity. The new changes will result in less business income (above $50,000 a year) being eligible for the 9 percent small business tax rate. Second, the government plans to support innovation with $2.6-billion allocated for “incremental support” over five years. In addition, the government wants to help remove barriers to access to capital for women and will allocate $1.4 billion in new financing available to women-led businesses. Technology sector startups can also benefit from a $85.3-million investment in a new intellectual-property strategy to help provide better access to legal advice on IP, creation of a patent marketplace and creation of “patent collective.”

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