Ads keep this website free for you. does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

October 24, 2017 Fall Economic Statement
Canadian Tax and
Financial Information Home

What's New

Links & Resources

Site Map

Need an accounting, tax or financial advisor? Look in our Directory.  Use above search box to easily find your topic!   Stay Connected with!
What's New
Personal Tax
Sales Taxes
Financial Freedom
Financial Planning
Registered Accounts
Real Estate
US Tax Tips
British Columbia
Atlantic Provinces
Federal Budget
Prov/Terr Budgets
Statistics etc.
Site Map
Advertise With Us
Contact Us/About Us
Links & Resources
Federal Budget -> October 24, 2017 Fall Economic Statement

October 24, 2017 Fall Economic Statement - Tax Changes

Fall Economic Statement - on Department of Finance website

October 24, 2017 Notice of Ways and Means Motion

    - starts the indexation of the Canada Child Benefit on July 1, 2018, where it was previously legislated to be indexed starting July 1, 2020.  Both the benefit amounts and phase-out thresholds will be indexed.

October 24, 2017 News Release:

    - Working Income Tax Benefit (WITB) will be further increased starting in 2019, coming into effect in that year as part of the enhancement of the Canada Pension Plan.

Tax Changes for Private Corporations

The October 24, 2017 Notice of Ways and Means Motion (link above):

    - revises the gross-up rate for non-eligible dividends from 17% for 2017 to 16% for 2018 and 15% for 2019 and later years

    - revises the tax credit for non-eligible dividends from 21/29ths of the gross-up in 2017 to 8/11ths in 2018 and 9/13ths in 2019 and later years.

    - Increases the small business deduction from 17.5% in 2017 to 18% for 2018, and to 19% for the 2019 and subsequent taxation years.

Further changes announced:

    - move forward on restricting income sprinkling effective for 2018 and subsequent taxation years, simplify the proposed measures, and provide greater certainty as to their application.  Revised draft legislation has been released - see Small Business Tax Changes.

    - limit the benefit of investing passively in private corporations, including an annual threshold of $50,000 of passive income.  Details of proposed rules to be released in Budget 2018.

    - the proposed measures to limit access to the Lifetime Capital Gains Exemption will not happen.

   - the proposed measures relating to the conversion of income into capital gains will not happen.

    - the government intends to bring forward legislative proposals to ensure that farmers and fishers are not inappropriately denied the small business deduction on income from sales to a cooperative.

Revised: October 26, 2023



Copyright © 2002 Boat Harbour Investments Ltd. All Rights Reserved.  See Reproduction of information from

Facebook  | Twitter  |  See What’s New, stay connected with by RSS or Email
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.