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Small businesses still burdened by taxes after budget

Moncton February 7th, 2017 - Small and medium-sized business owners in New Brunswick are disappointed that the provincial government has not moved beyond its current policy focusing exclusively on one tax relief measure to address the total tax burden faced by business owners.

As part of its pre-budget submission CFIB had recommended to the provincial government that the total tax burden faced by small and medium-sized businesses in the province be reduced in this budget.

Over the last two years small businesses have faced increased costs in the form of higher property taxes, gas and diesel taxes, the land transfer tax, personal income taxes, minimum wage and the hike of the Harmonized Sales Tax. Business owners know that additional costs are looming. Minimum wage is scheduled to increase, employment insurance rates are going up for small businesses, workers compensation premiums are climbing, Canada Pension Plan premiums will go up and a carbon tax will be imposed all within the next two years.

“It is disappointing to see that government has not recognized the needs of small businesses in this budget” said Louis-Philippe Gauthier, Director of Provincial Affairs. “It should come as no surprise that only 14 per cent of our members say that government understands the realities of running a business in the province”.

79 per cent of CFIB members say reducing the total tax burden is the most important action government can take to help support small business and entrepreneurship in New Brunswick.

For more information, please contact Louis-Philippe Gauthier, Director of Provincial Affairs for New Brunswick, at 1 506 961-5706 or by email at [email protected] .

CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region, including 5,000 in New Brunswick.

February 7, 2017

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