G & M: The bill includes a new law called the Greenhouse Gas Pollution Pricing Act, which sets a national carbon price regime that will apply in provinces and territories that have not established an equivalent carbon tax or cap-and-trade policy.
Another section will limit access to the small-business corporate income tax rate for businesses with passive investment income of more than $50,000 a year. It was the final part of a package of small-business changes that Finance Minister Bill Morneau first announced in the summer of 2017 and later modified in response to strong opposition from small-business owners.
Another section will limit access to the small-business corporate income tax rate for businesses with passive investment income of more than $50,000 a year. It was the final part of a package of small-business changes that Finance Minister Bill Morneau first announced in the summer of 2017 and later modified in response to strong opposition from small-business owners.
Another area of controversy raised during Senate hearings related to changes to the Bank Act that would expand the ability of banks to enter into partnerships with financial technology companies, or fintechs. Federal Privacy Commissioner Daniel Therrien told senators the provisions failed to strike the right balance between promoting innovation and protecting the privacy of consumers.
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