Small business organization lobbies for no CPP hike, less red tapeBusiness & Professional
Small consulting engineering firms will most likely support points made by the Canadian Federation of Independent Business (CFIB) in its pre-budget submission to the Canadian government’s Finance Committee.
Over four days this week various lobby groups are presenting their case to the Finance Committee, hoping to have their wishes incorporated in the Liberal government’s first budget. The budget is expected to be presented next month.
Following are the CFIB’s “Seven ways Canada’s federal budget can help small businesses create jobs.” – Continue with the reduction in the Small Business Tax Rate (SBTR)
Move forward on the Government’s promise to lower the SBTR from 11% to 9%, and ensure all SMEs have access to the small business rate, including professionals.
– Say no to a CPP/QPP hike
Reject any plans to increase CPP/QPP premiums for employers and work with provinces to ensure more voluntary savings options, like Pooled Registered Pension Plans (PRPP), are made available to Canadians.
– Make the Employment Insurance (EI) system fairer for employers
In addition to moving forward with the platform commitment to provide an EI holiday for employers hiring youth, implement a permanent lower rate of EI for small business.
– Make red tape reduction a priority
Expand the baseline count to include rules found in policy and legislation, and set a 20 per cent red tape reduction target from the baseline count in three years.
– Simplify small business dealings with the Canada Revenue Agency (CRA)
Ensure the Small Business Consultation forum moves forward, and implement recommendations for the review of rules around active and passive income.
– Make it easier for business owners to pass their business on to the next generation
Consider re-introducing and passing Liberal Private Member’s Bill C-691, An Act to Amend the Income Tax Act (Business transfer) or similar legislation.
– Better control public sector wages, benefits and pensions
Introduce an affordable, short-term disability plan and reform pensions for public sector workers that align with those in the private sector.
The CFIB says that their recommendations will help Canada’s small business community “navigate a difficult economy in 2016.”
Dan Kelly, CFIB president, said: “As the top job creators and the drivers of our economy, small businesses’ priorities are Canada’s priorities. Having continued access to the small business tax rate and not having to worry about an increase in their payroll taxes will go a long way to building small business confidence and encouraging economic development for Canada’s top job creators.”
CFIB has 109,000 members across every sector and region of Canada. It has represented the small business community for over 40 years. Click here.
To read the press release, click here.