A 9% rate has outlasted three budgets and business owners want it gone
The same release asks Ottawa to lift the GST/HST registration threshold to at least $60,000 from $30,000, unchanged since 1991, and the Canada Pension Plan basic exemption to $7,000 from $3,500, unchanged since 1998.
“The federal tax rate has been stuck at 9 percent since 2019. It’s time Ottawa improved Canada’s tax system, and that starts with cutting taxes for small businesses,” said Dan Kelly, CFIB president, in the release.
CFIB analysis cited in the release puts the share of small business deduction claimants with income at the current threshold at about 0.4 percent.
“Very few businesses sit near the threshold, and many of those that do tend not to stay there year after year and actually often speed up their investments, not hold back,” said Simon Gaudreault, CFIB chief economist and vice-president of research.
More than two months after US Section 338 tariffs took effect on August 22, many small businesses remain ineligible for federal tariff support programs, CFIB said.
