Department of Finance Canada said Budget 2024 included measures for small businesses, entrepreneurs, and business investment.
The budget proposed a refundable Canada Carbon Rebate for Small Businesses to return fuel-charge proceeds from 2019-20 through 2023-24 to an estimated 600,000 eligible businesses with 499 or fewer employees.
Budget 2024 also included $200 million over two years, starting in 2026-27, to expand access to venture capital for equity-deserving entrepreneurs, underserved communities, and firms outside major metropolitan hubs.
The Canadian Entrepreneurs' Incentive, once fully rolled out, would give eligible entrepreneurs a combined total and partial exemption of at least $3.25 million when selling all or part of a business.
For small-business owners, the measures connect tax rebates, capital-gains relief, and financing programs to cash flow and investment decisions.