On 23 June 2016, Canadian Finance Minister Bill Morneau announced that Budget Implementation Act, 2016, No. 1 received Royal Assent. The Act mainly includes the 2016 Budget measures designed to help the middle class, including increased child benefits, support for seniors and changes in the employment insurance program. It also includes certain business related tax measures, including:
- Maintaining the small business tax rate at 10.5% for 2016 and subsequent taxation years and making conseque…