If you want to find out more about this proposed legislation, the attached white paper from the accounting firm of Logan and Katz may provide some more insight.

The Canadian Federal Government is proposing changes to the Corporate Tax rules that will frankly eliminate any benefit of being a small business owner. In fact, that’s their stated objective. The government believes that a business owner who is taking risks should pay the exact same tax as someone who is employed and taking no risk.

Corporate Tax Changes