PwC Federal Budget Instant Reaction: Small businesses struggling in the downturn get growth support



    OTTAWA, Jan. 27 /CNW/ - PricewaterhouseCoopers (PwC) Canada tax
specialists commented today:

    Budget 2009 provides for certain measures to enable small businesses to
manage through the downturn. They include:

    
    -   Increasing the amount of small business income eligible for the
        reduced federal tax rate of 11 per cent to $500,000 from the current
        limit of $400,000 as of January 1, 2009
    -   Increasing access to credit for small businesses through proposed
        amendments to the Canada Small Business Financing Program and the
        Business Development Bank of Canada
    -   Providing $30 million over two years for the Canada Business Network
        and $10 million to the Canadian Youth Business Foundation
    -   Allocating $200 million over two years to the National Research
        Council's Industrial Research Assistance Program to enable it to
        temporarily expand its initiatives for small and medium-sized
        businesses
    

    The decisions that small companies make now will determine how they are
positioned when the cycle turns. Companies need to be agile enough to take
advantage of the downturn's opportunities and the provisions from the
Budget-and be among the strong survivors in the long run.
    A PwC Budget Flash with additional Budget highlights will be issued later
today followed by a detailed Budget Memo. For more information and detailed
commentary on the Budget please contact, Carolyn Forest,
carolyn.forest@ca.pwc.com, 416-814-5730 or visit www.pwc.com/ca/budget.

    PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 155,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
    "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.





For further information:

For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, carolyn.forest@ca.pwc.com

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