Today the Canadian Federation of Independent Business (CFIB) released its latest Business Barometer® index, which shows small business optimism in Manitoba fell to an index of 58.2 in July from an index of 64.6 in June. This index level is below Manitoba’s five year average of 63.8 and equal to the national average index of 58.2.
For all Manitobans, July 1 is a bittersweet date. While we enjoy and celebrate Canada’s birthday, it’s also the unhappy anniversary of the province’s infamous PST increase. But that’s not the only tax hike entrepreneurs bemoan at this time of year. Since 1982, June 30th is the anniversary of an equally costly moment in Manitoba’s tax history: the creation of the “Payroll Tax”.
According to the 2015 provincial budget, families now pay up to $3,285 more in provincial taxes and crown corporation utility fees in Manitoba compared to Saskatchewan.
You’ve told CFIB reducing red tape is one of the best ways to help you expand your business and create jobs. We’ve listened and are lobbying your local governments on simple, cost effective 4 point plan to make it easier to comply with regulations.