Feds Dial Back Contentious Tax Proposal in Bid to Calm Business Owners

Feds Dial Back Contentious Tax Proposal in Bid to Calm Business Owners
Finance Minister Bill Morneau speaks to local business owners and media during a press conference at Station 33 Cafe & Yoga in Hampton, N.B., on Oct. 18, 2017. The Canadian Press/Stephen MacGillivray
|Updated:

OTTAWA—Finance Minister Bill Morneau has scaled back one of the most contentious elements of the Trudeau government’s tax-reform plan in yet another effort to calm infuriated small business owners.

The move aims to water down the proposal on passive-investment income, so that only 3 percent of the “most-wealthy” privately owned corporations will have to pay higher taxes.

Related Topics