Budget gives businesses greater access to small business rate

Currently, access to the small business rate is proportionally reduced when a business has taxable capital of between $10 million and $15 million. Access to the small business rate ends completely at taxable capital of $15 million or more.

The budget proposed to phase out access more gradually, with access fully phased out when taxable capital reaches $50 million.

The measure would apply to taxation years that begin on or after budget day, and the government estimated…

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