The Canadian Federation of Independent Business (CFIB) has requested the Government to cut the tax rate for small business and reestablish fairness in employer payroll taxes. A recent survey has made by CFIB said that cut down the payroll taxes should be a major issue at upcoming Budget 2015. The CFIB recommends the small business tax rate from 11% to 9%. In 2000, the rate was 12% and main corporate tax rate was 28%. While the corporate tax rate has decreased from 28% to 15%, the small business rate has been decreased by 1% only. The Ministry of Finance will present 2015 Economic Action Plan to Parliament on 21st April 2015. The Finance Ministry has established that the Government wishes to announce balanced budget legislation.
Related Posts
IMF Country Focus Examines Canada’s Internal Barriers to Trade
February 27, 2026
On 27 January 2026 an IMF Country Focus looked at opportunities for Canada to increase growth by removing internal barriers to trade. The Country Focus with the title Canada Can Grow Faster by Unlocking Its Own Market, written by F Diez and Y. Yang,
Read More IMF Report on Canada Recommends Tax Changes
February 26, 2026
On 21 January 2026 the IMF issued a report following consultations with Canada under Article IV of the IMF’s articles of agreement. The report notes that Canada is adjusting the significant trade shock caused by US tariff increases and the limited
Read More
Canada joins multilateral agreement on GloBE information exchange (GIR MCAA)
February 18, 2026
The OECD has reported that Canada signed the Multilateral Competent Authority Agreement on the Exchange of GloBE Information (GIR MCAA) on 6 February 2025. The agreement is designed to enable the automatic exchange of GloBE Information Returns
Read More
J5 warns OTC crypto desks and processors enable tax evasion, money laundering
February 16, 2026
The Joint Chiefs of Global Tax Enforcement (J5) published two law enforcement advisories on 11 February 2026 that detail how over-the-counter (OTC) cryptocurrency trading desks and cryptocurrency payment processors may be used to obfuscate and move
Read More Canada consults domestic content requirements for clean technology, electricity investment tax credits
February 16, 2026
Canada’s Department of Finance, in a news release on 13 February 2026 ,announced that it launched consultations on the possibility of introducing a domestic content requirement under the Clean Technology and Clean Electricity investment tax
Read More Canada: CRA to apply GST/HST on mutual fund trailing commissions from July 2026
February 03, 2026
The Canada Revenue Agency (CRA) will require mutual fund dealers to collect goods and services tax/harmonised sales tax (GST/HST) on trailing commissions, as they are now considered taxable supplies, starting 1 July 2026. The CRA’s position on
Read More