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CFIB pushes senate to reconsider small business tax rate freeze

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Toronto, June 7, 2016 – Canada’s small businesses drive the nation’s economy. That was the key message delivered this morning by Canadian Federation of Independent Business (CFIB) Director of National Affairs Monique Moreau in a presentation to the Senate Committee on National Finance.

“Small businesses are the key to getting our economy back on track,” said Moreau. “When small business owners reinvest in their companies, they’re reinvesting in their employees and their communities. We need to ensure that they have the capital they need to keep innovating, to keep investing, and to keep creating jobs. The government has made it harder for small businesses to make these investments by cancelling their election promise to reduce small business taxes by over $2 billion over the next five years. There is still time for the Senate to ask them to reconsider.”

Moreau urged the committee to consider the following measures to help small businesses:

  • Reduce the small business tax rate to the promised nine per cent and ensure all small businesses have access
  • Oppose any mandatory increases to the Canada Pension Plan
  • Fix unfair rules that remove access to the small business corporate tax for small campgrounds and self-storage facilities
  • Ease the restrictions around passing a business on to a family member

To arrange an interview with Monique Moreau, please contact Ryan Mallough at 416-222-8022, 647-464-2814 or [email protected].

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region.