Section 37 Tax Relief for Start-Ups and Small Businesses
Starting and operating a business costs money. From marketing to rent for the office, there are numerous expenses. But did you know that startups and small businesses can save on taxes by claiming deductions? Section 37 of the Income Tax Act assists businesses in lowering their taxable income by permitting deductions for some expenses. Let's see how this section works in favour of startups and small businesses.