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On Halloween of 2007, Stephen Harper's Conservative Federal Governament
passed it's mini budget. What does this mean to Canadians across the country. The following accountants
share the benefits of the mini budget:
•Allan Madan, CA - Harper’s Mini-Budget delivered on Halloween,
contains a deep bag of tax goodies for business owners!
Some of the highlights include:
•A reduction in the Federal small business tax rate (applied to profits up to $400,000) from
13.12% to 11%, beginning January 1, 2008. That means, for Ontario based business the overall tax
rate will drop from 18.62% currently to 16.5%.
•A gradual reduction in the Federal corporate tax rate for profits in excess of $400,000 from
22.12% currently to 15% by 2012. That will mean Canada will have the lowest corporate income tax
rates among G7 countries.
•Effective January 1, 2008, the GST will drop to 5%.
Now if only Harper could do something to curb the rise in the Canadian dollar
»Allan is a chartered accountant in
Mississauga, Ontario.
We are still accepting submissions about the 2007 Canadian mini
budget. Submit yours to submissions@trade-pals.com
and we will post it on this page along with a link to your site or blog.
Write "2007 mini budget" in the subject line and include your full name and website URL to link to
along with your tip.
Featured Accountants On TradePals
•California
CPA: Liezle runs a CPA firm in Los Angeles, California that specializes in public and non-profit industries.
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Accounting: Crystal provides general accounting, payroll, and income tax prep. for businesses in San Antonio, Texas
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