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Small Business Owner? A Caution About Who to Nominate As Your Estate Trustee. If you have a Canadian Controlled Private Corporation, (“CCPC”) you may be taking advantage of the Small Business Deduction when filing your corporate taxes. At time of writing, this deduction applies to $500,000 of corporate income taxes for eligible businesses — meaning you can pay less tax on the first $500,000 of your business income. If you are taking advantage of this deduction, and the person you want to be the estate trustee (formerly, “executor”) of your estate is also a small business owner who takes advantage of this deduction, you may want to think twice before nominating them to be your estate trustee. Subsection 125(2) of the Income Tax Act says that, by default, the small business deduction does not apply if you have more than one, “associated” businesses. The definition of “associated” businesses includes companies that are controlled by the same person, which prevents people from nominally creating multiple businesses to use this tax credit more than once. If you do have “associated” businesses, you can still elect to get the small business deduction if you file correctly, but it would only apply to $500,000 of income split between the businesses.