Canada—October 18th—The Small Business Matters Coalition, comprised of a number of trade associations representing well over 180,000 small and medium size businesses in Canada, applauds the announcement today by Finance Minister Morneau with respect to passive investments.
“Todays decision demonstrates to our Coalition members that this Government has been listening to the concerns of our members and again has responded very positively to our concerns. In particular, we have had a very constructive and open dialogue with Minister of Small Business Bardish Chagger” said Gary Sands, Chair of the Coalition.
Sands stated that the changes unveiled today “will only impact a small amount of corporations and this will ensure that small businesses will not be negatively affected by the thresholds on these investments and will have more flexibility to hold savings for multiple purposes”
Satinder Chera, the Vice Chair of the SBM Coalition, added that “the Coalition believes with the measures announced this week, in particular a cut in the small business tax rate to 9 percent, that our members know the government recognized the unique challenges and pressures faced by small business owners across the country.”
Feature image: Prime Minister Justin Trudeau with SBM Coalition Chair and CFIG SR VP, Gary Sands
For more information, please contact: