As Parliament returns today, 63% of small business owners say that taxes are a serious concern to their business, finds new data by the Canadian Federation of Independent Business (CFIB). And 59% are also concerned about operational costs, while 56% are worried about uncertainty over economic conditions.
Corinne Pohlmann
“Between strikes, global supply chain interruptions, and crushing taxes and tariffs, small businesses have been to hell and back. Many have been adapting, pivoting and learning to live with constant uncertainty, but what they really need now is some stability,” said Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB. “Many businesses are scrambling to manage costs and make investment decisions. It’s time for the federal government to step up and give small firms the breathing room they need to survive and grow.”
CFIB said its petition calling on Ottawa to deal with unfinished business has garnered over 13,000 signatures. As Parliament resumes sitting, the national organization said some key small business priorities include:
• Ensuring that the economic measures announced last week are quickly clarified and implemented so that the money collected through Canadian counter tariffs is quickly returned to affected Canadian small businesses from all sectors.
• Quickly returning the remaining $600 million in 2024-25 carbon tax rebates to small business and ensure they are tax free as promised
• Delivering on the promised increase to the Lifetime Capital Gains Exemption to $1.25 million and implementing the promised Canadian Entrepreneurs’ Incentive
• Lowering the federal small business tax rate from 9% to 0% for the foreseeable future and increasing the small business deduction threshold from $500,000 to $700,000
• Lowering the Employment Insurance (EI) premium rate for smaller employers to the same rate paid by their employees
• Reducing red tape and working with provinces to implement full mutual recognition as a means of quickly eliminating internal trade barriers.
Jasmin Guénette
“In addition to what was announced by the prime minister on September 5, business owners expect the federal government to provide more information on its plan to build a stronger economy and support Canada’s entrepreneurs as Parliament resumes. This fall, government will table its first budget since the spring of 2024. It will need to include concrete measures that will reduce the tax and regulatory burden on SMEs, including a clear plan on how counter tariffs revenues will be returned to impacted small firms. Business owners will be watching closely to see if government follows through on its promises this legislative session,” said Jasmin Guenette, CFIB’s vice-president of national affairs.
The CFIB is Canada’s largest association of small and medium-sized businesses with 100,000 members across every industry and region.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024 and 2025.
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