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Tax package announcements an improvement, but a full overhaul is urgently needed

20-10-2017

This week’s announcements scaling back the small business tax package announced in July are a step in the right direction, but much more is needed if Canadian businesses are to compete.

The first step to this is to have a conversation about taxes in Canada, and the Senate Standing Committee on National Finance’s hearings, which will take place across the country in the next few weeks, are the perfect starting point. Things are changing rapidly and much of the new proposals still remains to be defined. SME owners have concerns about these measures and a lot to say about the process.

We will also need to look further. Since the government unveiled its proposed tax measures in July, the Canadian Chamber has advocated a full and independent review of the tax system to make it less of a drag on Canada’s competitiveness. At the Chamber’s annua ...

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Tax package announcements an improvement, but a full overhaul urgently needed, says the Canadian Chamber of Commerce

This week’s announcements scaling back the small business tax package announced in July are a step in the right direction, but much more is needed if Canadian businesses are to compete, says the Canadian Chamber of Commerce.

“The changes announced this week are a relief to the business community, but business owners are still alarmed since much still remains to be defined. It’s time we had a conversation about taxes in Canada, and the Senate Standing Committee on National Finance’s hearings, which will take place across the country in the next few weeks, are the perfect starting point,” said Mr. Beatty.

Posted on 20-10-2017

Passive Investment Changes an Improvement, says the Canadian Chamber of Commerce

The Canadian Chamber of Commerce welcomes the government’s changes to its proposals for taxing passive investment, but continues to wait for details yet to be revealed. The new proposal announced today by Finance Minister Bill Morneau  is a response to concerns expressed by the Canadian Chamber network and its members.

Posted on 18-10-2017