STARTUP CANADA RESPONDS TO GOVERNMENT OF CANADA TAX FAIRNESS ANNOUNCEMENT
OCTOBER 16, 2017 – STOUFFVILLE, ON – This morning, Startup Canada CEO and Co-Founder Victoria Lennox joined Prime Minister Justin Trudeau in Stouffville, Ontario, where he announced the Government of Canada will reduce the small business tax rate and adjust controversial proposed tax changes based on the feedback of Canadians.
In addition to reducing the corporate tax rate to nine per cent from 10.5 per cent over the next 14 months, Prime Minister Trudeau, in partnership with Bill Morneau, Minister of Finance and Bardish Chagger, Minister of Small Business and Tourism, announced the government will not make any changes to the Lifetime Capital Gains Exemption, as previously proposed.
As the national rallying community and voice for Canada’s entrepreneurs, Startup Canada provided a platform for entrepreneurs to contribute their feedback and recommendations in response to the proposed changes during the government consultation process in September.
Startup Canada is pleased that the Government of Canada has listened, and is taking action to improve the conditions for entrepreneurial success. This announcement demonstrates that by working together, entrepreneurs and government can create a fair and inclusive economy wherein every entrepreneur is empowered with the environment and culture necessary to build thriving businesses that create jobs for Canadians.
The Government of Canada will make more announcements throughout Small Business Week, and Startup Canada looks forward to hearing how these announcements will impact the entrepreneurship community.
On October 19, government and entrepreneurs will discuss and reflect on these announcements at Startup Canada Day on the Hill, the largest annual national entrepreneurship event convening more than 1,100 leading entrepreneurs, innovators, investors, industry executives, and government representatives annually to raise the bar for Canada as a globally competitive innovation nation.
Learn more and register to attend at www.startupday.ca.