Canadian SME Lobby Recommends Tax Cuts to Boost Small Business Growth
What happened
Research compiled by the Canadian Federation of Independent business found that 31% of small businesses in Canada are not growing due to cost and economic pressures. Over half of those businesses cited the tax burden as the primary barrier to expansion. The organization is making 13 tax recommendations to the federal government, including reducing the small business tax rate from 9% to 6%.
From lavalnews.ca
Why it matters
The Canadian Federation of Independent business argues that reducing taxes is the best way to invest in Canada’s small businesses, suggesting that government intervention should focus on tax relief rather than grants. These recommendations target federal fiscal policy and business operating costs.
From lavalnews.ca
Who's involved
- TorontoLocation where the SME lobby group is based.
- Government of CanadaRecipient of the tax and fiscal policy recommendations.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Government of CanadaSpeculative
The Government of Canada might be pressured to change federal tax and fiscal policy, which could affect business investment costs.
Keep exploring
The entities involved
-
Toronto
capital and largest city of the province of Ontario, Canada
Related events
- A company was reported to have its base of operations in Toronto.
- Stretch Zone is opening new studio locations and expanding its presence throughout the Greater Toronto Area.
- Both Toronto and Mississauga are noted as major centers of police activity.
- Emblem Corp and GreenSpace Brands, companies involved in the medical cannabis industry, have established their headquarters in Toronto, Canada.
- Microsoft has located a data center in Toronto.