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Private enterprise
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Infographic: Clamping down on small business deductions
Members of partnerships or shareholders (in certain corporate structures) â take note! The 2016 Federal Budget proposes to extend partnership income rules to certain partnership and corporate structures , which may:
<ul>
<li>limit your small business deduction on active business income (ABI) earned from the partnership or corporate structure, and</li>
<li>increase your corporate tax liability </li>
</ul>
May 17, 2016