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Ottawa Targeting Small Business Tax Troubles in Upcoming Budget: Champagne
The plan includes a $36 billion productivity mega-deduction and possible changes to the Scientific Research and Experimental Development program.
- Finance Minister Francois-Philippe Champagne previewed Thursday's budget at the Canadian Club Toronto on Monday, promising measures to simplify tax complexities for small and medium-sized businesses.
- Anchored by a $36 billion productivity mega-deduction, The Liberal government aims to attract $1 trillion in private investment over five years to incentivize domestic technology and capital spending.
- Champagne told journalist Peter Armstrong the budget aims to "simplify the life of small and medium-sized businesses," while Ottawa considers changes to the Scientific Research and Experimental Development program.
- Corinne Pohlmann, executive vice-president of advocacy for the CFIB, stated firms seek broad policies enabling reinvestment and growth beyond major infrastructure projects.
- This budget, the second under Prime Minister Mark Carney, continues the pivot toward a capital-focused agenda intended to build the domestic economy and reduce reliance on the United States.
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In particular, he will show what small businesses can do with new tax incentives," said the Minister.
·Montreal, Canada
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Total News Sources22
Leaning Left19Leaning Right0Center2Last UpdatedBias Distribution90% Left
Bias Distribution
- 90% of the sources lean Left
90% Left
L 90%
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