The release of the 2018 budget in February saw the federal government introduce amended rules on how passive investment income for Canadian-controlled private corporations (CCPCs) would be taxed. And while they are an improvement over the punitive tax rates proposed a year prior, Ottawa’s scheme to restrict access to the small business deduction if the passive income of a corporation exceeds $50,000 is still a major blow to the business community, says Cindy David, president and estate planning adviseer for Cindy David Financial Group Ltd.

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