Cutting Taxes on Small Businesses Act, 2025
- Sponsor
- Stephanie Bowman
Bill overview
Bill 12, “Cutting Taxes on Small Businesses Act, 2025”, is an Ontario bill from session 44-1. It was introduced by Stephanie Bowman (Liberal, Don Valley West).
Its latest recorded status is “In committee”.
This overview is written automatically from the registry and vote records on this page and updates when they sync. It describes the bill's path, not its merits.
SUMMARY FROM THE OFFICIAL REGISTRY
What you need to know
The Bill amends the Taxation Act, 2007 . Section 31 is amended to increase the Ontario small business deduction rate from 8.3 per cent to 9.9 per cent. The business limit for a taxation year for the purposes of the small business deduction is increased from $500,000 to $600,000. The formula in clause 32 (1) (b) for calculating the surtax to be added by an Ontario small business is also amended to reflect the increase of $500,000 to $600,000. The amendments are to come into force on January 1, 2026.
Vote roll
No division has been recorded for this bill yet.