Newspaper article The Canadian Press

Ontario Audio 4:05 PM ET

Newspaper article The Canadian Press

Ontario Audio 4:05 PM ET

Article excerpt

Ontario Audio 4:05 PM ET

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R02 - (Ont-Economic-Statement)

TORONTO. x-13s. Ontario is cutting its small business tax rate from 4.5 per cent to 3.5 per cent next year. It's part of a $500 million package for small businesses announced today in the province's fall economic statement. The tax cut and other supports are meant to ease the transition to a $14 minimum wage next year and $15 in 2019. Finance Minister Charles Sousa announced that small businesses will get incentives of $1,000 for hiring a young worker and another $1,000 for retaining them for at least six months.

("..15 and 29.") (SOURCE:The Canadian Press)

TAG: Sousa also says the province will spend one-third of its procurement on goods and services from small and medium-sized businesses by 2020. …

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