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  • Writer's pictureStaff Writers

Small Business Tax Rate Reduction Passes in the House of Assembly

The small business corporate income tax rate in the province has been reduced from 3 per cent to 2.5 per cent effective January 1, 2024.

The tax reduction was announced in Budget 2024 and passed in the House of Assembly on Friday.

The budget initiative will result in lower taxes for approximately 6,200 small businesses.


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