Quote:
Originally Posted by Frank MetaMusil
20% man. Not 2.
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I hate how this topic is discussed 20% and 2% don’t actually discuss what we care about here which is the impact to business.
Federal corporate taxes are 15% after the general reduction so taxes went from 25% to 27% if one is considering how the tax increase affects earnings after taxes.
So taxes paid increased by 8%. (27/25)
More important is the amount that profit was reduced by. (75/73). Profit after taxes for corporations was reduced by 2.74% as a result of an 8% increase in taxes being paid or a 20% increase in the provincial corporate tax rate.