The release of Bill C-32’s draft legislation allows more medium-sized Canadian-controlled private corporations to qualify for the Small Business Deduction (SMD).
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Bill C-32 includes measures aimed to help with housing affordability, specific non-tax measures from Fall Economic Statement 2022, and previously proposed legislation.
On November 3, 2022, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, tabled the federal government’s Fall Economic Statement.
The Grow Your Business Online grant will help up to 90,000 small businesses take advantage of e-commerce opportunities.
In Budget 2021, The Government of Canada announced the $4 billion Canada Digital Adoption Program to help get Canadian businesses online.
The Boost Your Business Technology grant offers support to Canadian-owned small- and medium-sized enterprises (SMEs) who want to adopt new digital technologies.
The passing of Bill C-19 allows the CRA to accept late-filed wage and rent subsidy claims and enact certain tax measures announced in budget 2021 & 2022.
Bill C-8, which includes enhancements to the Eligible Educator School Supply Tax Credit and the new Return of Fuel Charge Proceeds to Farmers Tax Credit, achieved Royal Assent on June 9, 2022.