Over the past week, Prime Minister Stephen Harper has announced two tax relief measures to help Canadian small businesses if the Conservatives are re-elected. With the Alberta oil and gas industry reeling in a one of the worst downturns to hit the industry in thirty years, any help to small business comes as very helpful indeed. Given the lack of support offered by the Provincial NDP’s and looming promises made by the Federal NDP and Liberal parties, Harper’s announcements to help small business ring as especially true. As many Alberta and Western Canadian companies involved in the oil and gas industry are in fact small businesses, the Harper announcements are certainly welcome.
Yesterday, Harper reiterated his promise to lower the small business tax rate from 11 to 9 % over the next four years. The Conservatives say the measure would provide $2.7 billion in tax relief to nearly 700,000 small business owners.
“Small businesses represent almost 99 percent of all businesses in the country and employ nearly 70 percent of all Canadians working in the private sector,” said the Prime Minister. “Our Conservative Government is on their side and our low-tax plan is helping them succeed and grow.” The Conservative government’s low-tax, balanced budget plan has consistently lowered taxes on Canada’s small businesses.
Yesterday, the Prime Minister announced that a re-elected Conservative government would cut payroll taxes by over 20 percent in 2017 and protect Canadian jobs from the dangerous Employment Insurance and CPP tax hikes promised by both Justin Trudeau and Mulcair.
“By dramatically reducing payroll taxes, Canadian workers will see their take-home pay increase and businesses – especially small businesses – will be able to create new jobs and invest in their current employees,” Prime Minister Harper said. “Our Conservative government has a proven record of reducing taxes on hardworking Canadians and job-creating businesses, and we have a plan to go further.”
Harper noted that Justin’s Liberals and Thomas Mulcair’s NDP have voted against the Conservative government’s small business tax cuts and have both set out agendas that would hike taxes significantly on small businesses.
“Justin Trudeau disparages small business owners,” Prime Minister Harper said. “He claims, incredibly, that most small businesses are just schemes for wealthy Canadians to avoid paying taxes. It’s yet another sign of his economic illiteracy and unreadiness.”
“Thomas Mulcair purports to support small businesses,” the Prime Minister said. “But the fact is that he’s also promising business and payroll tax hikes that will hurt small businesses and undermine job creation.”