Early Christmas Present from Province of Ontario    Sorry to interrupt, but....    Early Christmas Present from Province of Ontario Sorry to interrupt, but.... - Charles Rotenberg Last week you received Drache LLP's Year End tax newsletter. We don't like to interrupt your holiday preparations, but last Thursday's Economic Statement from the Honourable Dwight Duncan, Minister of Finance for the Province of Ontario warrants a special issue of our newsletter. More... Early Christmas Present from Province of Ontario - Charles Rotenberg On Thursday, December 13th, the Honourable Dwight Duncan, Minister of Finance for Ontario gave Ontario taxpayer’s an early Christmas present. Ontario’s proposed new tax initiatives Eliminating Capital Tax for manufacturing and resource activities on January 1, 2008 — a full two and one-half years earlier than scheduled. Cutting Capital Tax rates for all businesses by 21 per cent retroactive to January 1, 2007 — a full two years earlier than scheduled. Extending the lower small business corporate income tax rate to more small businesses effective January 1, 2007. Expanding the Land Transfer Tax Refund Program for First-time Homebuyers to include resale homes for agreements of purchase and sale after December 13, 2007. Increasing the film tax credit rates effective January 1, 2008. Extending the phase-out of the Labour-Sponsored Investment Fund tax credit and increasing the maximum eligible investment. More... You are receiving this e-mail because you have subscribed to one of our Drache LLP newsletters. You have complete control to review, update your newsletter options or unsubscribe at your discretion. If this email was forwarded to you, we invite you to subscribe to this newsletter or others that appeal to you. Your subscription information is private, please feel free to review our privacy policy. © Drache LLP Barristers & Solicitors, 222 Somerset St. W., 2nd Floor, Ottawa, Ontario K2P 2G3 Phone: (613) 233-2675 Facsimile: (613) 233-6752 Email: crotenberg@drache.com