CFIB calls for lower property tax rates for small businesses in Atlantic Canada
The Canadian Federation of Independent Business is calling on local and provincial governments to reduce commercial property tax rates for small businesses in Atlantic Canada, saying they aren't being taxed fairly.
According to a recent report from the CFIB, commercial property tax rates are typically more than double the residential rates, which it says has small businesses paying thousands of dollars more in property taxes.
'Small business confidence remains on shaky ground because of Canada-US trade tensions, lower consumer demand, and high costs,' said Duncan Robertson, CFIB's director of legislative affairs for Nova Scotia, in a news release.
'Municipalities need to provide improved fairness in how they set property tax rates. If they are serious about supporting small businesses, its time to show it.'
Property tax gap by municipality
Tax bill on a $372,500 property
Tax Gap $ Multiplier X Residential $ Commercial $ St. John's 2.04 3.52 3,017 10,616 Charlottetown 2.19 2.31 6,221 14,379 HRM* 2.12 4.34 2,364 10,245 CBRM 3.13 2.61 7,240 18,989 Moncton 2.81 3.06 5,071 15,535 Fredericton 2.77 3.12 4,875 15,200
Author's calculations = from municipal tax rates. Municipal property tax rates taken from municipal websites. Note: HRM rates are averages of the area and tiered rates. $372,500 is the average of the Canadian Real Estate Association's National MLS Home Price Index for St. John's, Prince Edward Island, Nova Scotia, and New Brunswick in April 2025.
Call to lower property tax rates
The CFIB says more than 70 per cent of small business owners believe municipalities should make it a priority to limit property tax increases and close the gap between residential and commercial property tax ratees.
'This unfairness has a real impact on small businesses and in turn their customers with six in 10 small businesses having to increase prices to keep up with rising occupancy costs,' added Robertson. 'With municipalities increasing costs on small businesses while providing them with little improvement in services, small businesses have one clear ask, better value for their money.'
The CFIB is calling on local and provincial governments to do the following:
reduce commercial property tax rates for small businesses
close the property tax gap between commercial and residential properties
engage in sustainable spending practices that keep spending and tax levies in line with growth in population and inflation
The findings of the report are based on 412 responses from a random sample of CFIB members between June 3 and June 9 of this year.
The CFIB is Canada's largest association of small- and medium-sized businesses with 100,000 members, including more than 4,200 in Nova Scotia.
More to come…
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Calgary Herald
17 minutes ago
- Calgary Herald
Japanese trade deal with U.S. creates lower tariff rate for vehicles than Canada faces
Article content A new U.S.-Japan trade deal reportedly gives the Asian country a 15 per cent flat tariff rate — providing a potential edge in key export areas such as auto manufacturing, where Canadian finished vehicles currently face a 25 per cent tariff rate. Article content United States President Donald Trump announced the deal with Japan on Tuesday but details remain vague, as no official text of the deal was released. Article content Article content Article content That is similar to other trade deals that the U.S. has announced in recent weeks, where the details remain undisclosed. Still, as Canada inches toward an August deadline on negotiations with the U.S., auto industry professionals offered mixed reactions as to how Japan's deal could affect the competitiveness of Canada's sector. Article content Article content 'If you're Japan, and you're looking around and saying where are my competitors, you're feeling pretty good,' said Eric Miller, president of Washington, D.C.-based Rideau Potomac Strategy Group, a consulting firm on trade policy. 'Autos are about a quarter of their exports, and the auto access was a significant piece of this.' Article content Indeed, according to the World Bank, auto and related exports accounted for about 20 per cent of Japan's trade in 2022. Article content Within Canada's auto sector, the agreement spurred mixed reactions. Article content Article content On the one hand, if Japanese-built vehicle exports to the U.S. face a lower duty than Canadian built ones, this could in theory incentivize some automakers to move production to Japan. Article content Article content On the other hand, that is considered unlikely by many within the auto industry who hold out hope that in the end, Canadian-built autos are likely to receive a lower tariff rate than Japan. Article content 'That's certainly the hope,' said David Adams, president of the Global Automakers of Canada, a lobbying group that represents Honda Motor Co. Ltd. and Toyota Motor Corp. among other foreign automakers. Article content He and others say that vehicles built in Canada, often in border towns such as Windsor, have far more spillover effects in terms of creating jobs in the U.S. than vehicles built in other countries that are separated from the U.S. by an ocean. Article content In reality, Canadian automakers are already paying below 15 per cent in many cases. That is because the Trump Administration adjusted its policies such that automakers can declare the value of any Canada-United States-Mexico Agreement (CUSMA) compliant parts contained within a vehicle and deduct that amount from the total value of the vehicle subject to a tariff.
Globe and Mail
17 minutes ago
- Globe and Mail
Tesla Inc: Guggenheim Maintains 'Sell', $175 Target Ahead of Earnings
Tesla Inc. (TSLA) (About (STA Research): Is a Canadian investment research company specializing in advanced stock research and analysis. Our research team comprises of Financial Professionals). Analyst Update Guggenheim Securities has reiterated its 'Sell' rating on Tesla, Inc. and maintained a 12-month price target of $175.00 ahead of the company's upcoming earnings release. The bearish stance reflects concerns over margin pressure, demand uncertainty, and intensifying global EV competition, particularly from Chinese automakers. Guggenheim analysts have previously flagged issues related to Tesla's price cuts across key markets like the U.S., China, and Europe, which may weigh on profitability in the near term. Additionally, investors remains skeptical about Tesla's AI and Full Self-Driving (FSD) monetization timeline and sees limited upside in the core auto business without significant breakthroughs. Maintaining the 'Sell' rating before earnings also signals that Guggenheim anticipates underwhelming quarterly performance or cautious forward guidance from Tesla's management, especially in light of macroeconomic headwinds, slowing global EV sales, and the lack of major new vehicle launches in the current pipeline. Consensus Outlook Tesla currently holds a 'Hold' consensus rating from Wall Street analysts, reflecting a balanced but cautious sentiment. While some analysts remain bullish on Tesla's long-term technological and operational potential, others cite concerns around near-term valuation, profit margins, and competitive pressures. This mixed view is further evidenced by the average 12-month price target of approximately $300, which is below the current trading price—a signal that, in the eyes of analysts, Tesla may be overvalued at current levels.
CTV News
17 minutes ago
- CTV News
Keswick man wins $1 million jackpot, marking 3rd lottery win
Most people don't win much more than a free play with the lottery, but one Keswick man is celebrating his third big lottery win, marking his most significant yet. Neil Carter has been playing the lottery for four decades. Nine years ago he won $15,000 with an instant scratch ticket and last October, he took home $350,000 with a Lottario ticket. But now, the retired father of three upgraded to becoming an instant millionaire after winning $1 million with a ticket he purchased on a whim. "I went to the store for groceries, and while I was paying, I saw two Millionaire Multiplier tickets displayed on the counter,' he recalled. 'I decided to buy both of them.' Once home, Carter played his tickets, revealing his lucky streak was on a roll. 'I was shocked,' he said. 'I just couldn't believe it.' He called over his wife to double check on her phone using the OLG app. 'When she scanned it and saw that it was a big winner, she was in disbelief as well. We were both stunned and thrilled at the same time.' The new millionaire plans to buy and house and save for the future. 'Being a winner feels miraculous,' he shared. 'You never know if you'll be the one.' Carter purchased his winning ticket at Zehrs on Woodbine Avenue in Keswick. Millionaire Multiplier costs $100 per play and has a top prize of $1 million.
