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The Small Business Agency of Ontario (SBAO) is an agency of the Government of Ontario, operating as part of the Ministry of Economic Development and Trade. It was established by the government of Dalton McGuinty in 2005. [1]
In Canada’s federal tax system, the small business tax rate is the tax rate paid by a small business. As of 2019, the small business tax rate is 9% [1] The general corporate tax rate is 28%. [1] Additionally, each province or territory operates its own corporate tax system, with varying treatment for small businesses.
The SBD is based on "small business limits" which is currently $500,000. Previously, a "CCPC using the SBD [could] claim the small business tax rate on up to $500,000 of its active business income carried on in Canada", which represented a sizable tax reduction. [10] For almost all provinces and territories, the small-business limit is $500,000.
In 1972, the Government of Ontario was considerably re-organized as the various Departments were restructured and renamed as Ministries. In 1972, the Ministry of Government Services was created, assuming most of the functions of the former Department of Public Works. Over the years in its various forms, the Ministry assumed various ...
Associate Minister for Small Business & Red Tape Reduction Prabmeet Sarkaria (June 20, 2019 – June 18, 2021) Nina Tangri (June 18, 2021 – June 24, 2022) Minister of Red Tape Reduction Parm Gill(June 24, 2022-Janaury 25, 2024) [2] [3] Mike Harris Jr.(June 2024-Present) [4] Associate Minister for Small Business Nina Tangri (September 4, 2023 ...
Ontario's HST rate is 13%, similar to New Brunswick and Newfoundland and Labrador. Ontario committed to provide a refundable tax credit of up to $260 per adult or child in 2010–11 to low income people, [19] and British Columbia committed to provide a refundable tax credit of up to $230 per adult or child in 2010–11. [20]
The goods and services tax [1] (GST; French: Taxe sur les produits et services) is a value added tax introduced in Canada on January 1, 1991, by the government of Prime Minister Brian Mulroney. The GST, which is administered by Canada Revenue Agency (CRA), replaced a previous hidden 13.5% manufacturers' sales tax (MST).
Professional Engineers Ontario (PEO; known until 1993 as the Association of Professional Engineers of Ontario, APEO) [1] is a self-regulatory body that licenses and governs Ontario's professional engineers. PEO was created on June 15, 1922. [2] It has a statutory mandate under the Professional Engineers Act of Ontario to protect the public ...