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Finance Canada Is Considering Major Changes to How Corporations Are Taxed

The Department of Finance Canada is considering major changes to how corporations are taxed. The proposed rules could have a significant impact on many Canadian businesses: potentially raising taxes, increasing the administrative burden on SMEs and heightening the impact on family-run businesses.


On July 18, Finance Canada launched a consultation on how “tax-planning strategies involving corporations are being used to gain unfair tax advantages.” The document contains proposed policies to close these “loopholes.” There are four key changes that will affect business:

1. Sprinkling income using private corporations: The government wants to tighten rules to prevent a business owner from unfairly transferring income to family members who are subject to lower personal tax rates. In certain circumstances, owners would have to demonstrate that wages and dividend payments are “reasonable.”  More

 

Lights! Camera! Cambridge!

 

The City of Cambridge is a leader when it comes to film activity in the Region of Waterloo!  We welcome over a dozen projects annually, which bring excitement and activity to various locations throughout the city.  The film industry employs over 32,000 people throughout Ontario and infuses over $1.5 billion dollars into the provincial economy – and Cambridge is proud to play its part!  More

 

Member Profiles

 

Each month The Chamber features  members as our Profile Businesses of the Month! It’s a monthly feature favourite, where local businesses have the opportunity to tell other Chamber members – and the public – about who they are and what they do. View this months Member Profiles.

 

Our Cambridge.... A Gift to the World

 

Our Cambridge Cover

 

Our Cambridge ... A Gift to the World showcases Galt, Preston and Hespeler with their rivers, incredible historic architecture and hi-tech companies. This has made for a wonderful project...a collection of images and a gift book that corporations, residents and visitors will simply love.
 

The Book is a hard cover, jacketed coffee table book, great for your home, office or as a gift to visiting customers and suppliers.  Click here to purchase your copy.

 

 

 

 

 
 
BLOGS

• September 25, 2017
Tax Changes Will Hurt Small Businesses More >>

 

• September 12, 2017
Are you a business owner? Your MP needs to hear from you More >>

 

• August 23, 2017
5 Minutes for Business: Hammering Business – Finance Canada’s New Crackdown More >>

 

• August 08, 2017
Bill 148 and now Tax Changes More >>

 

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THE CHAMBER

 

Research tells us that when consumers know that a small business is a member of the chamber of commerce, they are 44% more likely to think favourably of it and 63% more likely to purchase products or services from that business in the future.

 

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