Will lower small business tax rate by 8.7 per cent
Doug Ford today announced the latest Ontario PC measure that will help small business owners create good jobs.
“If you’ve spent time in almost any town in Ontario — you know that small businesses are the lifeblood of their communities,” said Ford. “But small business owners can’t afford to hire expensive lobbyists and they are too busy working to go to fancy receptions and network with Liberal insiders. So, it’s no surprise that Kathleen Wynne has forgotten that small businesses even exist.”
Ford highlighted how, under Kathleen Wynne and the Liberals, small business hydro bills have tripled while many small businesses are struggling to stay open under the increased burden of red tape and regulations. The Canadian Federation of Independent Business recently reported that more than one-third of Ontario small businesses are thinking about shutting their doors or relocating.
“If Kathleen Wynne is ignoring small businesses, then the NDP are allergic to them,” said Ford. “We’ve seen the consequence of an NDP government before…it will include thousands of small businesses shutting their doors and hundreds of thousands of people out of work.”
Ford announced that an Ontario PC Government will take action to help small businesses in Ontario. In particular, an Ontario PC government will ensure that small business workers who make minimum wage will pay no provincial income tax. In addition, an Ontario PC Government will reduce small business hydro bills by 12 per cent. Finally, Ford announced that an Ontario PC Government will reduce the small business tax rate by 8.7 per cent.
“This is money taken out of the pockets of the government, and put into the pockets of the mom-and-pop stores, the innovative start-ups and the family businesses,” said Ford. “Our plan is responsible and affordable. My message to small business owners and small business workers is this, on June 7 change is coming and help is on the way.”