CFIB calls on federal government to follow provinces by cutting small business taxes
➡️Multiple provinces have followed CFIB's recommendation of providing relief to small businesses.
🚨It's time for Ottawa to do the same.
https://t.co/1Plls0tNr3
The Canadian Federation of Independent Business (CFIB) is raising concerns over the lack of transparency and progress of implementing direct-to-consumer (DTC) alcohol shipment policies, despite governments promising action by the end of May. 🔗 For more information, visit:
https://t.co/Q5ibPNgRcC
So far, programs like this have been useless for small firms. Even in programs created to support small firms hit by tariffs, Ottawa includes $ or staffing thresholds that exclude the majority of Canadian small businesses.
Typically, programs are created to sound helpful, but then design them to ensure they deliver as little as possible other than to a handful of large firms.
It is far better to provide broadly available tax or regulatory relief.
Ottawa unveils $1.5-billion in aid to industries hurt by U.S. tariffs /via @globeandmail https://t.co/FR2NaaYHsS
The federal spring economic update includes some welcome measures, but it is not enough to halt the alarming loss of small businesses across Canada.
The update continues the federal government’s focus on investments in major projects and large companies, with small and medium-sized firms stuck in the same old mix of red tape and high taxes. I don’t see much that will help Canada avoid a seventh quarter in a row of losses in the net number of small businesses. We need action to stop Canada’s entrepreneurial drought.
Giant funds, like the proposed Canada Strong Fund, have been tried in past budgets, without moving the economic growth needle.
What worries me is that Ottawa is trying to stimulate things for a few by using tax dollars and exemptions from normal rules, while ignoring the tougher job of encouraging entrepreneurship and facilitating growth in smaller businesses.
CFIB will continue its call for a significant reduction in the small business corporate tax rate.
The spring update does have one big win for small business – a significant reduction in Canada Pension Plan (CPP) premiums paid by employers and employees. Small firms are payroll intensive, and a cut in the premium rate from 9.9% to 9.5% will put $3 billion back into the pockets of employees and payroll budgets of employers.
This is good news and helps offset the unwelcome projected increase in Employment Insurance (EI) rates.
The other positive measures in today’s update include major changes to Canada’s apprenticeship supports focused on the trades. As long as we can keep the paperwork and red tape light, the new Apprenticeship Grant and $10,000 wage incentive for employers should be a big boost for small firms involved in Canada’s trades.
CFIB is very pleased the government listened to its request to make the new Employee Ownership Trust tax exemption permanent. Employee ownership is a great way to provide more options for entrepreneurs when they are looking to sell. Making this measure permanent will help ensure this measure is considered by more small business owners.
While it is welcome news that the current year’s deficit is projected to be smaller than in the fall budget, it is worrisome there is no plan to return to a balanced budget.
Government is projecting deficits over $50 billion for as far as the eye can see and small firms have learned the hard way that today’s deficits become tomorrow’s taxes.
The changes without consultation were the several years of working from home. This is a return to our normal expectations for highly paid civil servants.
📊 Canada is in the middle of an entrepreneurial drought. For the past six quarters, more businesses have closed than opened.
Small businesses are being crushed by high taxes, rising payroll costs, endless red tape, and ballooning government spending, all while giant subsidies flow to multinational corporations. It’s time for the government to walk the talk and support the backbone of our economy.
That’s why we’re calling for clear action: reduce red tape, lower the cost of doing business, and remove barriers to growth!
📝Add your voice to our petition: https://t.co/U0D9eAWrwS
#EntrepreneurialDrought #StopCrushingSmallBusiness
CFIB welcomes temporary federal fuel tax suspension
Next steps:
➡️Permanently eliminate the tax-on-tax treatment of charging the GST on gasoline
➡️Provincial governments should follow suite and also hit pause on fuel excise and sales taxes
https://t.co/3Iezh1GIJo
So, let me try to get my head around this. CUPW issues a recommendation to its members to vote in favour of its agreement with Canada Post. But then the union President recommends members reject the deal.
Little wonder CUPW is widely viewed as the most dysfunctional of any govt union.
Canada Post union head urges 55,000 workers to turn down tentative agreement https://t.co/1nSq95rd8w via @torontostar
Succession planning is one of the most important decisions a business owner will make, yet many leave it too late. CFIB, in collaboration with People Corporation, launched Succession Start to help you understand your options and plan your transition with confidence. Whether you are considering passing the business to family, a management buyout, or a third-party sale, starting early gives you more control and protects the value you have built.
Learn More: https://t.co/DN4FlL9L96
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Small businesses call for stronger domestic energy supply amid global uncertainty
➡️An overwhelming majority (90%) of small businesses say governments should prioritize increasing Canada’s energy production and capacity to better support the economy and ensure businesses have reliable access to the energy they need to operate.
https://t.co/fDxBOuBbuR