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Ontario -> Business Tax Reductions

Ontario Tax Reductions for Businesses for 2007/2008

In a January 2, 2008 news release, the Ontario government announced the following tax breaks for business effective January 1, 2008:

	Capital Tax eliminated for businesses primarily engaged in manufacturing and resource activities
	Ontario Film & Television Tax Credit rate increased to 35% from 30%
	Ontario Production Services Tax Credit increased to 25% from 18%

Proposed tax reductions which are retroactive to January 1, 2007:

	Capital Tax rate reduced by 21% for all businesses (will be eliminated completely in 2010)
	Small Business deduction threshold increased to $500,000 from $400,000

Revised: February 07, 2021

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