TORONTO, March 21, 2013 /CNW/ - Small business owners received some
positive news in today's federal budget with movement on several of the
top recommendations from the Canadian Federation of Independent
"Overall, this is a good budget for small business," said CFIB president
and CEO Dan Kelly. "Minister Flaherty has done a solid job by remaining
on course to eliminate the deficit while announcing some important
measures for Canada's entrepreneurs."
The federal budget delivered on several top issues for small firms,
Renewing and expanding by 50 per cent the Employment Insurance Hiring
Enhancing the Lifetime Capital Gains Exemption to $800,000 and indexing
it to inflation;
Remaining focused on eliminating the deficit by 2015;
Extending the accelerated capital cost allowance for machinery and
equipment for two years;
Making progress on red tape - particularly at the Canada Revenue Agency;
Announcing plans to address unfair sick leave provisions for civil
servants and unaffordable crown corporation pensions.
"We're particularly pleased the government publicly acknowledged taking
some of these measures - such as the expansion of the EI Hiring Credit
- at the recommendation of CFIB's 109,000 members," Kelly added. "In
fact, the planned changes to sick leave follow a recent CFIB report
that found civil servants take nearly double the leave days of
employees in small firms."
Given that half of Canadian small firms are concerned with the shortage
of qualified labour, CFIB is pleased the budget includes renewed focus
on skills training. "CFIB will be lobbying to ensure the new Job Grant
recognizes informal, on-the-job training and those elements of current
training programs that are working well," said Kelly.
While complimenting many of the budget measures, CFIB noted concern over
the planned change to the dividend tax credit. "It will be important
for us at CFIB to gauge the reaction of small firms to this technical
tax change in the context of the other important wins for our members
and the commitment to reviewing small business taxes once the deficit
is eliminated," Kelly concluded.
CFIB is Canada's largest association of small and medium-sized
businesses with 109,000 members across every sector and region.
SOURCE: CANADIAN FEDERATION OF INDEPENDENT BUSINESS
For further information:
To arrange an interview with Dan Kelly, please call Gisele Lumsden at 647-808-5769 or by email at firstname.lastname@example.org.