Ottawa to cut small-business tax, simplify reforms after uproar

OTTAWA—The Liberal government announced a cut to small business tax rates Monday, as Ottawa scrambled to appease business entrepreneurs who believe recent tax change proposals run counter to the government’s stated claim that it’s fighting for the middle class. Prime Minister Justin Trudeau, alongside Finance Minister Bill Morneau Monday, said the government will lower the small business tax rate to 10 per cent in January and to nine per cent in 2019. The move came just weeks after the Finance Department closed the consultation period for its proposed tax changes under private corporations.-- More....