The Canadian Government has announced that the Budget Implementation Act, 2018, No. 1 received Royal Assent on 21 June 2018. The Act implements a number of tax measures proposed in the Federal Budget 2018 ({News-2018-03-01/P/2-previous coverage}). Some of the main measures include:

• A reduction in the small business tax rate from 10.5% to 10%, effective 1 January 2018, and to 9%, effective 1 J…