This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
  • Delicious


Password Reminder

Please enter your email address to receive a password reminder.


Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

Email Address: 

Login »

Forgotten your password?

Today’s Top Headlines

Canadian SMEs Seeking Tax Cuts At Budget

by Mike Godfrey,, Washington

16 March 2017

The Canadian Federation of Independent Business (CFIB) has called on the Government to reduce the small business tax rate at the upcoming Budget.

Prior to its election, the Liberal Party had pledged to reduce the small business tax rate to nine percent. The 2016 Budget deferred any such cuts. The rate is currently 10.5 percent.

Announcing the CFIB's priorities for Budget 2017, its President, Dan Kelly, said: "We are calling on the federal Government to make good on its own promise to reduce the small business rate to nine percent. This would be one key measure the Government could employ to help spur innovation and offset the impact of a Canada Pension Plan increase and carbon pricing."

"The federal Government needs to show small business owners that it understands the challenges the face by introducing policies and measures in federal Budget 2017 to help SMEs build the confidence they need to grow their business," he added.

Also on the CFIB's wish list is an "Innovation Deduction" that would allow businesses to claim up to CAD100,000 (USD75,139) per year spent on new equipment or technology in the year of purchase. In addition, the CFIB said that the Government should extend the Small Business Job Credit (an Employment Insurance (EI) relief) or consider implementing a permanently lower EI rate for small employers.

TAGS: tax | small business | business | tax incentives | corporation tax | small and medium-sized enterprises (SME) | tax rates | social security | Canada | tax reform | trade association | trade

To see today's news, click here.

Leave a comment

Read our Posting Guidelines