Federal Tax Issues: Changes Welcome But...
Last 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 Chamber network wants to see a full overhaul of the tax system.
“The changes announced last week are a relief to the business community. They were alarmed that the July proposals threatened the survival of thousands of businesses. However, for our businesses to succeed, we urgently need to reform our complex, cumbersome and uncompetitive tax system,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber.
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 annual general meeting, delegates supported appointing a Royal Commission to conduct the review.
“We must stop simply tinkering with the tax system and undertake a comprehensive overhaul. We’re prepared to work with the government to find ways to make it simpler, less burdensome and fairer,” said Mr. Beatty. “We simply don’t have the luxury of falling farther behind as other countries reform their systems. We need to act now.”
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. The St. Thomas & District Chamber of Commerce will continue to share updates on this file as often as possible in our weekly Green Mail e-mail newsletter and via this website. We also encourage our Members to view news and information available at Chamber.ca or follow the national Chamber on Twitter @CdnChamberofCom.