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Ontario Business Tax Reductions

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Ontario -> Business tax reductions

Ontario Tax Reductions for Businesses for 2007 and 2008

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

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

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

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

Revised: September 19, 2017

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