Ontario projects 30,000 new jobs from proposed C$8-billion business tax cut
Key points
- The proposed Ontario Competitiveness Tax Cut is an $8-billion measure
- Eligible businesses could immediately deduct 100% of qualifying capital investments
- The province projects 30,000 new jobs but has not specified industries or timing
Ontario has proposed the Ontario Competitiveness Tax Cut, an $8-billion measure letting eligible businesses immediately deduct 100% of qualifying capital investments. The province projects $11 billion in added capital investment, $6 billion in GDP and 30,000 new jobs. It has not specified which industries would add the jobs or when hiring would occur.
What employers should do
- If your company plans capital investments, review the eligibility conditions once published
- Watch for the province's later announcement on industries and hiring timing
Policy details
- Jurisdiction
- Ontario
- Status
- Proposed rule
- Effective date
- —
- Employers covered
- Eligible businesses in Ontario
- Official source
- View official source ↗
Original report: Canadian HR Reporter ↗Edited with AI assistance. Facts are based on official sources and original reports.