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Cision Canada
5 days ago
- Business
- Cision Canada
CFIB statement on the need for the 2025 budget Français
TORONTO, June 3, 2025 /CNW/ - We're pleased to see talk in Ottawa about advancing a spring budget after all. Small businesses are waiting on word on at least five outstanding measures from the 2024 budget and Fall Economic Statement (FES). They include: The tax status of the $2.5 billion small business carbon rebate delivered in December (CRA says it is taxable until government introduces a change). Changes to and delivery of the $623 million small business carbon rebate for 2024/25 (the FES proposed a new formula and government is now sitting on the rebates). A legislative change to allow businesses to qualify for the earlier carbon rebate by filing their returns for those years before Dec. 31, 2024. A bump in the Lifetime Capital Gains Exemption (LCGE) to $1.25 million backdated to June 25, 2024 (introduced but not passed, promised by Prime Minister Carney too). The fate of the new Canadian Entrepreneurs' Incentive (backdated to Jan. 1, 2025) to lower the inclusion rate to 33% on a lifetime maximum of $2 million in eligible capital gains. All of these measures are supposed to be in place today, but were delayed due to the filibuster, prorogation of Parliament and election. Only one is temporarily supported by CRA (the LCGE change). A budget would provide the window for government to introduce the legislation, which should all be ready to go from the last Parliament. Without action, small businesses filing their 2024 taxes in June are required to pay corporate income tax on their share of the $2.5 billion carbon rebate they've already received and spent. Then, CRA is suggesting 600,000 small business owners file an amendment to get the tax back when the legislation change is made. This makes no sense at all. Among the best things the federal government could do to address the massive economic and trade uncertainty facing SMEs is to provide them with certainty on these tax measures. They have all been promised, are ready to go and should be part of a 2025 budget this legislative session. - Dan Kelly, President, CFIB About CFIB The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 100,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at
Yahoo
5 days ago
- Business
- Yahoo
CFIB statement on the need for the 2025 budget
TORONTO, June 3, 2025 /CNW/ - We're pleased to see talk in Ottawa about advancing a spring budget after all. Small businesses are waiting on word on at least five outstanding measures from the 2024 budget and Fall Economic Statement (FES). They include: The tax status of the $2.5 billion small business carbon rebate delivered in December (CRA says it is taxable until government introduces a change). Changes to and delivery of the $623 million small business carbon rebate for 2024/25 (the FES proposed a new formula and government is now sitting on the rebates). A legislative change to allow businesses to qualify for the earlier carbon rebate by filing their returns for those years before Dec. 31, 2024. A bump in the Lifetime Capital Gains Exemption (LCGE) to $1.25 million backdated to June 25, 2024 (introduced but not passed, promised by Prime Minister Carney too). The fate of the new Canadian Entrepreneurs' Incentive (backdated to Jan. 1, 2025) to lower the inclusion rate to 33% on a lifetime maximum of $2 million in eligible capital gains. All of these measures are supposed to be in place today, but were delayed due to the filibuster, prorogation of Parliament and election. Only one is temporarily supported by CRA (the LCGE change). A budget would provide the window for government to introduce the legislation, which should all be ready to go from the last Parliament. Without action, small businesses filing their 2024 taxes in June are required to pay corporate income tax on their share of the $2.5 billion carbon rebate they've already received and spent. Then, CRA is suggesting 600,000 small business owners file an amendment to get the tax back when the legislation change is made. This makes no sense at all. Among the best things the federal government could do to address the massive economic and trade uncertainty facing SMEs is to provide them with certainty on these tax measures. They have all been promised, are ready to go and should be part of a 2025 budget this legislative session. - Dan Kelly, President, CFIB About CFIB The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 100,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at SOURCE Canadian Federation of Independent Business View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
21-05-2025
- Business
- Cision Canada
CFIB calls on Parliament to deal with unfinished business as sitting resumes Français
TORONTO, May 21, 2025 /CNW/ - As Parliament gets set to reconvene on May 26, nearly two-thirds (62%) of small business owners are not confident that Canada's new federal government is committed to supporting small business, finds new data from the Canadian Federation of Independent Business (CFIB). "Parliament needs to act quickly to address some unfinished business that can provide some much-needed certainty and cost relief to small business owners. It's deeply worrisome and disappointing that the government is not planning to introduce a budget in this sitting as we need a budget to get some important tax policies across the finish line," said Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB. Some of those key small business priorities that are urgently needed include: Tariffs: Ensuring that the money collected through Canadian counter tariffs is returned quickly to affected Canadian small businesses. Carbon tax: Passing legislation to formally eliminate the carbon tax and returning the remaining $600 million in 2024-25 carbon tax rebates to small businesses Tax-free rebates: Ensuring the small business carbon tax rebates are delivered tax free as promised. Other employer rebates, such as Workers' Compensation Boards (WCB) rebates, must also be delivered tax free to boost the economy. Capital gains: Delivering on the promised increase to the Lifetime Capital Gains Exemption to $1.25 million and implementing the promised Canadian Entrepreneurs' Incentive which would lower capital gains taxes on up to $2 million following a business sale. Small business tax rate: Lowering the federal small business tax rate from 9% to 0% for the foreseeable future. Internal trade: Working with provinces to capitalize on the current momentum towards the elimination of internal trade barriers by adopting mutual recognition. "Ottawa needs to move as quickly as possible on economic and tax reduction policies. The cost of doing business is already high, and tariff-fueled uncertainty could cause irreversible damage if it's not addressed quickly. This government has a long list of outstanding promises to small business owners that it needs to address quickly. It has to provide a clear roadmap for the months ahead," said Jasmin Guenette, CFIB's vice-president of national affairs. Small business owners can sign CFIB's petition calling on the federal government to lower the costs of doing business. Methodology Your Voice – May 2025 survey – Launched May 6, 2025 (ongoing). Results as of May 13, based on 1,420 CFIB member responses. For comparison purposes, a probability sample with the same number of respondents would have a margin of error of ±2.6%, 19 times out of 20. About CFIB The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 100,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at
Cision Canada
29-04-2025
- Business
- Cision Canada
Tariff relief, tax cuts and budget restraint are small business priorities for new government Français
TORONTO, April 29, 2025 /CNW/ - The Canadian Federation of Independent Business (CFIB) congratulates Prime Minister Mark Carney and all elected MPs and looks forward to working with government and opposition parties on key small business priorities as we continue to navigate the tariff battle with the United States and China. "It was good to hear both Prime Minister Carney and Opposition Leader Poilievre pledging to work together to address the threat of U.S. tariffs in a minority Parliament. Now that we have a degree of political clarity, government needs to turn its attention to reducing taxes, cutting red tape and providing much-needed economic certainty. Small business confidence is near record lows, and CFIB is forecasting an extremely difficult second quarter for Canada's economy. We urgently need measures that would incentivize investment and help small businesses diversify their markets and suppliers," said Dan Kelly, CFIB president. With Parliament expected to resume in the weeks ahead, CFIB is asking the new government to introduce legislation and changes that will help small businesses meet today's challenges. This includes: Ensuring that the money collected through Canadian counter tariffs is returned quickly to affected Canadian small businesses. Passing legislation to formally eliminate the carbon tax, ensuring the small business carbon tax rebates are delivered tax free as promised, and returning the remaining $500 million in 2024-25 carbon tax rebates to small businesses. Delivering on the promised increase to the Lifetime Capital Gains Exemption to $1.25 million and implementing the promised Canadian Entrepreneurs' Incentive which lowers capital gains taxes on up to $2 million following a business sale. Lowering the federal small business tax rate from 9% to 0% for the foreseeable future. Working with provinces to capitalize on the current momentum towards the elimination of internal trade barriers by adopting mutual recognition. Making immediate expensing available to all businesses in all sectors. Lowering Employment Insurance premiums for smaller employers to the same rate paid by employees. "Small businesses are looking to the new government to follow through on its campaign promises, particularly around dropping the increase in the capital gains inclusion rate, removing the consumer carbon tax and knocking down interprovincial trade barriers. CFIB stands ready to work with all elected representatives to make those promises a reality," said Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB. About CFIB The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 100,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at
Yahoo
12-03-2025
- Business
- Yahoo
Posthaste: Small businesses already feel the tariff pinch and it's about to get worse
Most Canadian small businesses are feeling the pinch due to Canada's trade war with the United States, but it could get worse in short order. Sixty-two per cent of Canadian small and mid-sized businesses said they are taking a hit in the trade dispute, according to a recent survey by the Canadian Federation of Independent Business (CFIB). Another quarter said they haven't felt the impacts yet and 12 per cent were unsure if their business had been hurt. 'To say that small businesses are feeling worried is an understatement,' Simon Gaudreault, CFIB's chief economist and vice-president of research, said in a release. 'No one likes to be strung along, small businesses least of all. The ever-changing news developments and the constant on-again, off-again tariff threats are exhausting and just very bad for the economy, investment and long-term business planning.' Canada is mired in a trade war with the U.S. that currently impacts roughly 62 per cent of Canadian goods exported to the U.S., though U.S. President Donald Trump has pledged tariffs on all Canadian exports by April 2. Despite some tariff reprieves, prime minister-designate Mark Carney has pledged to maintain Canada's retaliatory tariffs until 'the Americans show us respect.' Today Trump imposed a 25-per-cent tariff on steel and aluminum imports from all countries. To support affected businesses, the CFIB is urging the federal government to scrap an incoming carbon tax hike, ensure carbon tax rebates are tax free, increase the lifetime capital gains exemption threshold to $1.25 million and ensure the promised Canadian Entrepreneurs' Incentive remains in place. It is also recommending all money collected from Canadian tariffs be returned to local businesses. 'We cannot wait until Parliament is back on March 24 to sort out the current mess and allow the ongoing uncertainty to drag on for any longer,' Corinne Pohlmann, CFIB's executive vice-president of advocacy, said. 'Ottawa owes it to small businesses to provide some clarity and assurance in these turbulent times.' to get Posthaste delivered straight to your still early, Canadian stocks are on track to outperform their U.S. counterparts for the third straight quarter, which hasn't happened since 2022. As of Tuesday morning, the S&P/TSX Composite Index has fallen down less than the S&P 500 Index to start 2025 as big losses among the largest tech stocks has slumped the index. Canada's stock market has seen a boost from copper and gold miners. Gold has been an added standout, in part because the commodity is seen as a stable option in times of economic turmoil. Read more here. 9:45 a.m.: Bank of Canada interest rate announcement Today's Data: U.S. consumer price index for February, U.S. treasury budget for February Today's earnings: Volkswagen St., Dick's Sporting Goods Inc. Forget tariffs, Trump may be targeting the Great Lakes and Canada's freshwater next Trump says he will double tariffs on Canadian steel, aluminum imports Bank of Canada expected to cut interest rate on Wednesday as trade uncertainty with U.S. continues 'Buy Canada' pressure builds on $2.3 trillion in pension plan cash Paycheque planning can go a long way toward achieving your financial goals. Whether you want to save for a vacation, pay off some student debt, or avoid running out of money between paydays, a paycheque plan can help make sure you stay on the right track. Read more here. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Ben Cousins, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Trump might not be so happy when he sees what tariffs do to his economy Tariffs have Canadians changing spending habits Sign in to access your portfolio
