At the same time, CFIB data shows nearly three-quarters (72%) of Ontario small businesses are feeling the effects of US tariffs, either directly or indirectly, highlighting the urgency behind tax relief efforts.<\/p>\n
However, while Ontario is lowering the small business corporate income tax rate, higher personal tax rates could make it more costly for owners, according to CPA Canada.\u00a0Starting next year, personal tax rates on non-eligible dividends will rise as the dividend <\/a>tax credit<\/a> is reduced, potentially offsetting some of the benefits of the corporate tax cut.<\/p>\n \u201cThis makes it more expensive for business owners to access retained earnings, which could reduce the net benefit of the corporate tax cut,\u201d says Ryan Minor, director of tax at CPA\u00a0Canada.\u00a0\u201cBusiness owners will need to weigh the advantages of lower corporate taxes against higher personal taxes when planning dividend <\/a>withdrawals and long-term growth strategies.\u201d<\/p>\n While Ontario\u2019s move addresses cost pressures, other provinces are focusing on internal trade, an area where progress is accelerating but remains incomplete.<\/p>\n In Alberta, the tabling of the Interprovincial Trade Mutual Recognition Act has been met with approval from small business advocates. The legislation aims to align provincial standards with those of other jurisdictions, making it easier to sell goods and services across borders.<\/p>\n","protected":false},"excerpt":{"rendered":"At the same time, CFIB data shows nearly three-quarters (72%) of Ontario small businesses are feeling the effects…\n","protected":false},"author":2,"featured_media":570590,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[49,48,219503,17781,88065,44],"class_list":["post-570589","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-ca","tag-canada","tag-canadian-small-business","tag-cfib","tag-interprovincial-trade","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/570589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=570589"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/570589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/570590"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=570589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=570589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=570589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}