Morneau said the system will now allow $50,000 of passive investment income annually to be sheltered before the higher tax rate is imposed. His department also said that all past investments and the income earned from those investments would be protected. The government describes passive investment income as the investment of money left in a corporation, for purposes other than to invest directly in growth. Billions in passive investment fundsTo emphasize the point, Morneau made the announcement in a cafe, surrounded by several female entrepreneurs and flanked by Status of Women Minister Maryam Monsef. His family business, Morneau Shepell, is a human resources and pension management company.

Source: CBC News October 18, 2017 16:18 UTC