Toronto – The March Ontario budget presented small
business owners with a major breakthrough on business property taxes
with its commitment to cut business education taxes by $540 million
over seven years.
Judith Andrew, Ontario vice-president of the CFIB, said there are some labour policy measures, such as the changes in minimum wage and the workplace safety and insurance system, that are wrong-headed and have no business being presented in the budget.
Those negative measures somewhat offset some of the following budget measures that will help small- and medium-sized business owners. These positive measures include:
• a commitment of $500,000 annually to streamline the approval process and modernize Ontario’s regulatory regime
• the acceleration of the elimination of the capital tax to 2010 and the elimination of the tax for nearly 14,000 small- and medium-sized firms in 2008
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