If you are assuming that the rate of return is 5%, then $50,000 would be consistent with $1 million of passive assets. Before then, your measure starts to gradually reduce a small business deduction, and it would be fully phased out at $3 million.
Director General, Business Income Tax Division, Tax Policy Branch, Department of Finance
If you are assuming that the rate of return is 5%, then $50,000 would be consistent with $1 million of passive assets. Before then, your measure starts to gradually reduce a small business deduction, and it would be fully phased out at $3 million.
See context to find out what was said next.