Tax Breaks for Small Businesses
March 1st, 2012 - 11:52am
Nathan Cullen recognizes the importance of small business in Canada, and as the NDP's finance critic in Ottawa, he has been fighting to reduce small business taxes for this important sector that creates nearly half of all new jobs in Canada.
Nathan and the NDP are proposing steps that can be taken right now to support Canada’s small business sector.
Small businesses employ more than 7.7 million Canadians and make up 40% of Canada’s GDP.
We pledge to cut the small business tax rate from 11 to 9 percent to better support a sector of our economy that creates nearly half of all new jobs in Canada. We’ll start with an immediate reduction from 11 to 10 percent, injecting some $600 million into Canada’s small businesses – followed by an additional reduction to 9 percent as soon as finances permit. Fully implemented, this will cut small business taxes by nearly 20 percent.