Ontario Supporting Small Business Owners in Oakville North-Burlington

April 1, 2026

Proposed Tax Cut in 2026 Ontario Budget Would Save Eligible Small Businesses $1.1 Billion Over Three Years

April 1st, 2026

Oakville North-Burlington – In the midst of tariffs and economic uncertainty, Ontario’s 2026 Budget: A Plan to Protect Ontario continues to build the most competitive, resilient and self-reliant economy in the G7 through significant tax relief in the next phase of Ontario’s Tax Action Plan. This includes ensuring Ontario’s small businesses continue to stay competitive by proposing a 30 per cent reduction in the small business corporate income tax (CIT) rate from 3.2 per cent to 2.2 per cent effective July 1, 2026.

More than 375,000 businesses across the province and in Oakville North-Burlington would benefit from $1.1 billion in additional tax relief over three years, with qualifying businesses receiving up to $5,000 in savings annually to help cover their costs, invest, and create more jobs.

Several local small businesses gathered this morning at Venture X for an event hosted by the Burlington Chamber of Commers for a post Budget discussion with the Hon. Nina Tangri, Minister Associate Minister of Small Business.

“It was a pleasure to join the Burlington Chamber of Commerce and local small business leaders at Venture X to discuss how these measures will directly support businesses here in our community, helping them reinvest, create jobs, and continue driving economic growth across Halton.” said Effie Triantafilopoulos, MPP for Oakville North–Burlington. “Small businesses are the backbone of our local economy here in Oakville North–Burlington, and our government is taking action to help them succeed during a time of global uncertainty. Through our 2026 Budget, we are proposing a 30% reduction to the small business corporate income tax rate—delivering up to $5,000 in annual savings for eligible businesses and our investments in programs like Summer Company and Starter Company Plus can help local entrepreneurs start, scale, and grow.”

The cut is a cornerstone of Ontario’s Tax Action Plan and builds on actions already taken to lower the rate from 3.5 per cent to 3.2 per cent in 2020 and expand eligibility to more businesses in 2023. Through key actions taken since 2018, the government would enable nearly $10 billion in estimated cost savings and support for Ontario businesses in 2026, of which $4.8 billion would go to small businesses.

To further support small businesses, the government is also investing $9.4 million over three years, beginning in 2026–27, to renew grants for the Summer Company and

Starter Company Plus programs delivered through the Small Business Enterprise Centers (SBECs) network.

“More than 98% of all employer businesses in Ontario are considered small, with less than 100 employees,” said Nina Tangri, Associate Minister of Small Business. “These job creators and innovators help communities across the province thrive, and our government is proud to support them by providing additional tax relief that will allow them to reinvest in their companies and workers so they can scale-up, reach new customers and grow.”

The 2026 Budget furthers the government’s plan to attract jobs and investment, lower costs for workers and businesses, keep life affordable for families and individuals and make targeted investments in key public services that support the province’s long-term prosperity.