The Finance Ministry in Ontario has declared proposed measures to increase the tax rate on “non-eligible dividends” of up to 3.9% which was effective from January 1, 2014. Other proposed measures would include:
- Certain research and development (R&D) tax credits will have enhanced;
- Giving certain transitional backup for three contact centre apprenticeship trades that will no longer eligible for a tax credit;
- Introducing a non-refundable tax credit to inspire the donation of surplus fresh food to the poor; and
- Deferment of performing of the raw leaf tobacco oversight system.
