On 27 January 2009, the Minister of Finance tabled the Budget for 2009. Highlights of the business tax measures are as follows:
(a) Small business deduction limit. The small business deduction reduces the federal corporate income tax rate applied to income below the threshold, of qualifying active business income of a Canadian-controlled private corporation (CCPC) to 11%. The small business deduction is phased out on a straight-line basis for CCPCs having between…