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“The Parliamentary Budget Officer says Ottawa’s planned changes to passive income rules for small businesses will eventually raise up to $6-billion a year, but the spending watchdog supports the government’s claim that only a very small percentage of small businesses will be affected,” wrote Justin Tang/ The Canadian Press for The Globe and Mail on November 23, 2017.
Tang/The Canadian Press continued, “Providing the first cost estimate of the proposal, the PBO expects the plan would raise up to $1-billion a year during the first two years. This would rise gradually to up to $6-billion once the policy has been in place for 20 years.
Overall, the report estimates that about 2.5 per cent of incorporated small businesses – officially known as Canadian Controlled Private Corporations (CCPCs) – would be affected.”
Read the full article here.
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