What small business wants on party platforms: Tax cuts (of course) and revival of income-splitting

1023smallbiz - What small business wants on party platforms: Tax cuts (of course) and revival of income-splitting

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Kelly notes that many small businesses are still smarting from the 2017 small business federal tax hike to 10.5 per cent, although he was pleased to see it reduced to nine per cent as of Jan. 1 of this year.

There’s this outlook that business owners try to do as little as possible to pay their employees so that they can walk away with fat cat pockets.

Dan Kelly, CEO, Canadian Federation of Independent Business

Other CFIB ideas include creating a pathway to permanent residency for Temporary Foreign Workers and give them an “opportunity to work with an employer as a step towards permanent residency.”

The survey includes data from a 2018 CFIB Member Profile Survey of 3,151 recipients, in which one out of two said they had had to stop paying themselves or their family members in order to pay employees.

“There’s this outlook of many that business owners try to do as little as possible to pay their employees so that they can walk away with fat cat pockets,” said Kelly. “It works out that during the 2017 tax fight with the federal government, small firms were simply looking for loopholes to take on their taxes.”

Kelly says that he and CFIB are realistic in realizing that the parties will not be able to adopt all of these proposals into their mandates, but he is hopeful some ideas will see a breakthrough given that all parties agreed on cutting tax rates last year.

• Email: nsokic@postmedia.com

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