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Changes to passive income rules could net feds $6 billion, PBO says

Changes to passive income rules could net feds $6 billion, PBO says
From CBC - November 23, 2017

Parliament's spending watchdog says Liberal changes to passive investment rules for small businesses could rake in up to $6 billion annually in new tax revenues after a decade.

The parliamentary budget office's report out today says the new tax revenues would likely start out at up to $1 billion in the first year that new rules come into effect, and continue to rise.

The report says about 47,000, or 2.5 per cent of Canadian-controlled private corporations, would be affected by the changes the government is proposing.

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