CFIB issues priorities for upcoming federal budget


Economy Industry Government Manufacturing CFIB manufacturing small business SME succession

Taxes related to business succession, carbon tax and payroll taxes top the SME priority list.

OTTAWA — The Canadian Federation of Independent Business (CFIB) is urging all federal parties to put forward policies that make it more affordable to own, operate and pass on a small business, including fair tax treatment of family succession, lowering payroll taxes, and reducing red tape.

CFIB said with an aging population, succession is a growing concern for small business owners, many of whom wish to sell their business to their children. According to the association’s research, 72% of business owners plan on exiting their business within the next decade, which represents a transfer of assets potentially worth over $1.5 trillion.

CFIB is recommending the following measures be included in the upcoming federal budget:

• Pause planned CPP premium hikes and implement an EI credit which effectively lowers the rate for small businesses.


• Allocate an equal share of carbon tax revenues between households and businesses to better reflect the share of carbon taxes being paid by each.

• Put in place a plan to return to balanced budgets within the next five years.

• Reduce red tape by improving government customer service, including through utilizing digital technologies.

• Ensure that the Canada Training Benefit meets the needs of both employees and employers.

CFIB is an association of small and medium-sized businesses with 110,000 members across every industry and region.


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