Make Newfoundland And Labrador
More Affordable For Small Business!

Where small business owners in the province stand:

Matchstick figure carrying three dollar signs symbolizing cost pressures for small businesses

79% don’t believe the provincial government understands their cost pressures.

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87% want the provincial government to prioritise reducing the cost of doing business.

A calculator, tax documents, and a pen

86% want the provincial government to reduce their overall tax burden.

CFIB is asking all political parties to include cost-relief for small businesses in their platforms


Jonathan Galgay
CFIB Director, Legislative Affairs

Jonathan Galgay

SMALL BUSINESS TAX RATE (SBTR) MUST BE LOWERED!

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Nova Scotia recently reduced their SBTR to 1.5%. PEI’s rate is set to 1%.

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Newfoundland and Labrador is tied with New Brunswick for the highest SBTR in the Atlantic!

THE 15% RETAIL SALES TAX ON INSURANCE PREMIUMS MUST GO!

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Newfoundland and Labrador has the highest retail sales tax on insurance premiums in Canada.

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There is NO retail sales tax on insurance premiums in New Brunswick, PEI, and Nova Scotia.

Dear party leaders

CC: All provincial candidates

The cost of doing business has skyrocketed! After years of dealing with pandemic-related issues and uncertainties, my business continues to be bogged down with inflation, supply chain challenges, and a heavy tax/regulatory burden.

All I want is to be able to afford to run a profitable business in this province.

To help me offset the increased costs of doing business in Newfoundland and Labrador and keep my business competitive, I am calling on your political party to:

  • Lower the small business tax rate to 1%.
  • Increase the small business corporate income tax threshold from $600,000 to $700,000.
  • Eliminate the 15% retail sales tax on insurance premiums for my business.
CFIB logo

The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 100,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings.