Ontario -> Budgets
Business/Personal Tax Measures:
- small business corporate income tax rate reduced from 4.5% to 3.5% effective January 1, 2018
- non-eligible dividend tax credit rate reduced to 3.2863% of the taxable dividend effective January 1, 2018. However, Bill 177 (link below) legislative changes result in a rate of 3.1197%, which is what we are using in the Ontario tax rate tables. The difference is due to the reduction in the gross-up rate for 2018, to 16%.
- The Apprenticeship Training Tax Credit (ATTC) is being eliminated for employers with apprentices who register in an apprenticeship program after November 14, 2017. This is in conjunction with the announcement of the new Graduated Apprenticeship Grant for Employers (GAGE).
2017 Ontario Fall Economic Statement - on Ministry of Finance website
Bill 177, Stronger, Fairer Ontario Act (Budget Measures), 2017 was tabled on November 14, 2017 and received Royal Assent on December 14, 2017.
Ontario 2017 Budget - April 27, 2017
Ontario 2016 Budget - February 25, 2016
Ontario 2015 Budget - April 23, 2015
Above link is to Ontario Budget website. See also Chapter 4: A Fair and Sustainable Tax System.
There are no changes to the personal income tax system. The main tax-related provisions in the budget are:
Ontario 2014 Budget - May 2, 2014
Ontario 2013 Economic Outlook and Fiscal Review - November 7, 2013
Ontario 2013 Budget - May 2, 2013
Ontario 2012 Budget - March 27, 2012
Ontario 2011 Budget - on Ontario Dept of Finance website
Ontario 2010 Budget - on ON Finance website
Revised: January 21, 2019
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