Published 2 months ago • loading... • Updated 2 months ago

Carbon tax rebates for small businesses are taxable, despite assurances

Summary by The Globe & Mail

Parliament’s prorogation leaves Ottawa unable to legislate the government’s promise that small businesses won’t have to pay tax on the tax rebate

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The Globe & Mail

Center

Carbon tax rebates for small businesses are taxable, despite assurances

Parliament’s prorogation leaves Ottawa unable to legislate the government’s promise that small businesses won’t have to pay tax on the tax rebate

2 months ago·Canada

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True North News

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Liberals flip-flop again on taxing small business carbon tax rebate

The Canada Revenue Agency will be taxing the small business carbon rebates, despite the Liberals previously backing off the measure after facing serious backlash. The Canadian Federation of Independent Business announced it had learned of the incoming taxation on Monday. “The CRA has confirmed to CFIB in writing that the Canada Carbon Rebate for Small Businesses is considered ‘assistance received by the taxpayer from a government in the taxatio…

2 months ago

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municipalinfonet.com

Canadian Federation of Independent Business - Canada Revenue Agency to tax the $2.5 billion small business carbon tax rebate despite decision by the Department of Finance

2 months ago

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soscip.org

Canada Revenue Agency To Tax $2.5 Billion Small Business Carbon Tax Rebate, Overruling Finance Department Decision

In a move that has stunned small business owners across Canada, the Canada Revenue Agency (CRA) is proceeding to tax the highly anticipated small business carbon tax rebate, despite prior assurances from the Minister of Finance. This development has come to light following months of ambiguous guidance from both the Finance Department and the CRA regarding the taxation of capital gains. In November 2024, after mounting protests from the Canadian …

2 months ago

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canadiansme.ca

Canada Revenue Agency to tax the $2.5 billion small business carbon tax rebate despite decision by the Department of Finance - CanadianSME Small Business Magazine

The Canada Revenue Agency (CRA) is proceeding with taxing the long-awaited small business carbon tax rebates despite repeated commitments from the Minister of Finance, the Canadian Federation of Independent Business (CFIB) has learned. This follows months of unclear guidance from Finance and CRA on the taxation of capital gains. In November 2024, after CFIB protested an earlier CRA decision to tax the $2.5 billion small business carbon tax rebat…

2 months ago

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