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Guelph Chamber of Commerce Release Statement

Web posted on October 18, 2017

Guelph, October 18, 2017: As Canadians celebrate Small Business Week, the Guelph Chamber congratulates the thousands of businesspeople who made their voices heard on an important issue affecting Canadian workers and employers. The Guelph Chamber of Commerce welcomed the federal government's decision to lower the small business tax rate to 9% by 2019, as well as revise its current tax proposals.

The Chamber applauded the government for listening to the concerns of small business owners, entrepreneurs and caucus members like Member of Parliament for Guelph, Lloyd Longfield. The new measures proposed, while not perfect, are more balanced.

"We are still open to working with the government to ensure that these new proposed measures are more balanced and will accomplish their intended goal of providing a fairer tax system to Canadians, without hurting small businesses.

We look forward to hearing about further modifications to the proposed changes based on feedback from small businesses across the country" says Kithio Mwanzia President & CEO, Guelph Chamber of Commerce. "This has to be the first step in a broader discussion on tax competitiveness, and lead to a discussion on how we can ensure that Canada has a system that is both fair and attractive to foreign and domestic investors," continues Mwanzia.

The government's fulfillment of its electoral promise on lowering the small business tax rate will allow businesses to free up more capital to reinvest and create jobs. It's a step steering us closer to a more competitive tax system, if applied properly.

Although the Guelph Chamber has significant reservations on some of the proposed changes, the efforts by businesses in Guelph and across Canada were successful and the Minister of Finance continues to make a noteworthy effort to take the opinion of small businesses into consideration in this new version of his proposed tax changes.

The Guelph Chamber remains open to working with the government to ensure that these new proposed measures are more balanced and will accomplish their intended goal of providing a fairer tax system to Canadians, without hurting small businesses.

"Small and medium-sized businesses (SMEs) are the engine of the Canadian economy estimates range from 85 to 90% of all businesses in Canada are SMEs. SMEs in Guelph are the backbone of our community. They employ neighbours and support local initiatives.

The Chamber of Commerce remains committed to continuing to work actively with the federal government to ensure the revisions to the changes do not punish legitimate businesses, restrict innovation, and stifle entrepreneurship," concludes Mwanzia.


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