On May 5, 2017, the Department of Finance proposed changes to the new rules relating to the multiplication of the small business deduction. Applicable to taxation years that begin after March 21, 2016, these proposals aim to ensure that a farmer’s or fisher’s corporation selling farming products or fishing catches to an arm’s length agricultural or fisheries cooperative is not inappropriately denied access to the small business deduction.
For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 430