OTTAWA, Oct. 30 /CNW/ - Commenting on the Economic Statement delivered
today by the Federal Finance Minister, CGA-Canada says: "The tax cuts are no
trick. Broad-based tax relief for businesses and individuals are
"The government has the fiscal room to manoeuvre and can afford to reduce
the tax burden on all taxpayers," said Anthony Ariganello, CPA (DE), FCGA,
President and Chief Executive Officer of CGA-Canada.
However, the tax system is still overly complex. "Targeted and piecemeal
tax cuts over time have made the tax system too complicated," said Ariganello.
"We need a fundamental review to make sure the tax system is fair, simple,
efficient and competitive." A panel of experts should be appointed to bring
informed, independent advice to the government, he added.
In this respect, CGA-Canada welcomes the federal government's commitment
to work with the provinces to facilitate the transition towards a harmonized
sales tax in non-participating provinces. "A single wicket where sales tax can
be paid and administered will go a long way to reduce the compliance burden,"
Ariganello commented. "Recent research demonstrated harmonization stimulated
investments in the Atlantic provinces."
In its pre-budget submission, Paving the Way to Prosperity: Its Time for
Real Tax Reform, CGA-Canada recommends a four-point plan to build a more
prosperous and competitive nation. CGA-Canada spells out concrete measures the
government can adopt to reform the tax system, eliminate interprovincial trade
barriers, capitalize on Canada's knowledge advantage and provide support to
SMEs and entrepreneurs in Canada.
CGA-Canada looks forward to working with the federal government as it
prepares Budget 2008.
CGA-Canada's pre-budget submission can be read at www.cga.org/canada.
CGA is the fastest-growing accounting designation in Canada. The CGA
designation focuses on integrity, ethics and the highest education
requirements. Recognized as the country's accounting business leaders, CGAs
provide strategic counsel, financial leadership, and overall direction to all
sectors of the Canadian economy.
The Association sets standards, develops education programs, publishes
professional materials, advocates on public policy issues, and represents CGAs
nationally and internationally. The Certified General Accountants Association
of Canada represents 68,000 CGAs and students in Canada, Bermuda, the
Caribbean, Hong Kong and China.
For further information:
For further information: Taylore Ashlie, Director, Communications,
CGA-Canada Telephone: (604) 605-5055, Cell: (604) 307-0212, Email: