Fall Economic Statement
On November 6, the Government of Ontario released its 2019 Fall Economic Statement entitled 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build Ontario Together, which provides an update on the government’s finances and announces commitments for the upcoming 2020 Budget.
OGCA small businesses will experience a small business Corporate Income Tax (CIT) rate to 3.2 percent from 3.5 percent, starting January 2020.
The provincial plans to consult on ways to encourage investment into rural and undercapitalized areas of the province, which means conducting a series of consultations with rural stakeholders on economic development challenges and opportunities in their regions.
The PC government announced plans to begin its first‐ever assessment of how climate change will affect Ontario’s economy, infrastructure, communities, public health and safety, and ecosystems.