OTTAWA, Oct. 5, 2015 /CNW/ - The Canadian Automobile Dealers Association (CADA) is launching its election campaign platform today in Ottawa, focusing on concrete policy recommendations that will allow car dealers and small businesses of all kinds to continue to prosper in an increasingly challenging domestic economic environment. CADA's federal policy priorities focus on further tax reduction for small businesses and consumers, a continued push for red tape elimination, maintenance of automobile leasing provisions in the Bank Act, and policies aimed at improving the way in which the Canada Revenue Agency administers tax law in Canada.
"Car dealers have a great story to tell," said Michael Hatch, CADA Chief Economist. "We are the largest and most geographically broad sector of the Canadian auto industry, which has come through very challenging times in recent years. As the federal parties finalize their own platforms and economic policies ahead of the vote in two weeks, we are here today to present automobile dealers' election campaign platform to help ensure prosperity in highly challenging domestic economic times."
CADA is calling on the federal government to improve car dealers' accessibility to the small business deduction by reducing the current grind that sees capital-intensive small businesses like auto dealers lose access to the small business tax rate, and by removing lien notes from the calculation of taxable capital for the purpose of seeking access to the small business rate. Additionally, CADA urges the federal government to continue with its campaign against needless red tape, specifically by ensuring that old-fashioned paper fuel economy labels for new cars and trucks remain voluntary and are not made mandatory. CADA is also calling on the government to make investments needed to ensure CRA has the industry-specific knowledge it needs to administer tax law fairly and evenly for new car dealers, and to increase the communication between CRA's rulings and audit divisions on vital business tax policies. CADA and its members also support the maintenance of current restrictions on the Banks in the automotive leasing business. Finally, CADA calls on the government to continue its push towards lower taxation levels for consumers and small businesses, and to ensure that these tax reductions are not cancelled out by provincial tax increases.
"Canada's car dealers bring to the federal parties a comprehensive list of policy recommendations aimed at ensuring a sustainable economic recovery for small businesses of all kinds," continued Mr. Hatch. "As all parties finalize their campaign platforms, we urge them to keep economic policy and small business at the forefront of their policy priorities."
The Canadian Automobile Dealers Association (CADA) is the national association for franchised automobile dealerships that sell new cars and trucks. Our 3,300 dealers represent a key sector of Canada's economy. Through our dealers, we are represented in nearly every community and those dealers collectively employ over 160,000 men and women across the country.
SOURCE CANADIAN AUTOMOBILE DEALERS ASSOCIATION (CADA)
For further information: CADA Public Affairs, Telephone : 613-230-2079, 1-800-465-3054