It’s time for Canada’s small business owners to get ahead

September 24, 2019

It’s time for Canada’s small business owners to get ahead

Canada’s small business ownerscreate jobs for others. They are far from the “tax cheats” that Justin Trudeau says they are. Trudeau has spent the last four years using every trick in the book to squeeze more money from them. 

There are some people who are better off with Justin Trudeau as Prime Minister.The wealthy and the well-connected are doing just fine. Under Justin Trudeau, the more you have the more you get. And that is not how government should be run.

A new Conservative government will repeal Trudeau’s damaging small business tax hikes and slash red tape so entrepreneurs can devote more of their time and energy to growing their companies and building their communities.

THE ISSUE

At the end of 2017, there were nearly 1.153 million small business in Canada. In Ontario alone, that number was 417,742.

The majority of small business owners in Canada are medium-income earners, yet Justin Trudeau has smeared them by calling them wealthytax cheats.

Justin Trudeau raided small businesses’ rainy-day funds by trying to tax passive investments at up to 73 per cent, then taking away the small business rate from businesses that save too much, and punishing owners’ families –all to pay for their runaway spending.

Trudeau dithered and delayed lowering business taxes(to rates which Conservativesproposed) for years. When he finally did act, it was too little, too late. His attackshurt Canadian competitiveness and the already-tight bottom lines of Canadian entrepreneurs.

Not only is running a small business more expensive under Justin Trudeau, it’s also more difficult.

According to a report by MEI, the federal regulatory burden now includes more than 136,000 federal rules – an increase of more than 4,300 since the Canadian Chamber of Commerce tallied federal regulations in 2015. These federal regulations are on top of hundreds of thousands of others provincially.

The World Bank prepares a Doing Business Report that compares business regulation on domestic firms in 190 countries around the world. Canada has fallen to the 18th spot, from 9th in 2009. In May 2019, the IMD World Competitiveness Centre ranked Canada 13th globally – a drop of three spots from the previous year. Canada is sliding under Justin Trudeau.

In 2015, Justin Trudeau said he would make life better and easier for Canadians striving to get ahead. He said he would help the middleclass. The last four years have proven he is not as advertised.

THE PLAN

Andrew Scheer and Canada’s Conservatives understand that running a successful business is hard enough, without the government making it more expensive or more difficult.

To support small businesses, a new Conservative government will:

  • Repeal Justin Trudeau’s tax increases on small business investments so hard-working owners aren’t punished for saving for a rainy day or their retirements
  • Exempt spouses from Justin Trudeau’s tax increases on small business dividends to recognize the contributions families make to small business success
  • Make it easier to navigate Canada’s tax system and get set up with the Canada Revenue Agency (CRA) by creating new, helpfulinformation packages for small businesses and entrepreneurs
  • Reduce the complexity of rules the CRA enforces
  • Appoint anexpert panel to undertake a comprehensive, system-wide review of taxation in Canada and suggest ways to modernize it, simplify it, and make it fairer
  • Review and implement panel recommendations with a view toimproving Canada’s international competitiveness and growing the Canadian economy

To reduce small businesses’ regulatory burden, a new Conservative government will:

  • Immediately repeal Justin Trudeau’sjob-killing, growth-chokingmeasures contained in Bills C-69, C-55, C-48 (the Tanker Ban), and the carbon tax
  • Reduce federal regulations by 25 per cent over our four-year mandate
  • Implement a 2-for-1 rule whereby before imposing any new regulation the government would get rid of two others
  • Assign a minister reporting directly to the Prime Minister to lead government-wide regulatory reduction modelled on Australia’srecent experience and tasked with eliminating, where possible, regulatory discrepancies and duplication with the provinces
  • Mandate ministers and regulators to support innovation, economic growth, and global competitiveness
  • Set concrete targets for each Minister to reduce the regulatory burden in their purview
  • Champion Canada’s small businesses the world over and recognize they are the backbone of the Canadian economy

Small businessesare responsible for 41.5per cent of Canada’s gross domestic product (GDP). Unleashing their full potential is critical to growing Canada’s economy to ensure we can all get ahead.

THE CHOICE

On October 21, Canadians will have a choice between a new Conservative government that will make life easier for smallbusiness owners by lowering their taxes and cutting red tape or a Trudeau Liberal government that will make doing business more expensive andmore difficult.

If given four more years, Justin Trudeau’s overspending will force him to raise taxes. Canadians already know that hewill raise the carbon tax. This would add 31 cents to the price of gasoline and thousands of dollars in new costs for everyday home essentials like groceries and home heating. Business owners get doubly hit – at home and at work.

Justin Trudeau can’t be trusted to help you get ahead.

Andrew Scheer is the only leader with a plan that will help small business owners and all Canadians. A new Conservative government will lower your taxes and put more money in your pockets so that you can get ahead.