June 5, 2023
The CFA applauds the current Ontario government for holding the line on taxes since coming to power in 2018, especially during the difficult pandemic years of 2020-2022.
Budget 2023, introduced in March 2023, contains no new taxes or spending cuts. Rather the emphasis continues to focus on services and projects designed to get Ontarians working again and re-establishing the economic engine of the country, including the phase-out of pandemic incentives.
Taxes play a significant role in shaping the broader competitive environment for entrepreneurs, especially small business owners; the value of small businesses cannot be underestimated.
OUR ASK
That the Ontario government continues its work to maintain a low corporate income tax rate and enhance tax credits to help small business owners, particularly franchisees, thrive.
Government needs to provide the right economic climate and smart tax structures for entrepreneurs to have the best chance at surviving and succeeding. Keeping corporate and small business tax rates low and exploring additional tax incentives for entrepreneurship, like opening a new franchise location, can provide the best opportunity for small businesses to succeed and resume their role as an economic engine for the province.
The Canadian Franchise Association (CFA) helps everyday Canadians realize the dream of building their own business through the power of franchising. The CFA advocates on issues that impact this dream on behalf of approximately 650 members and over 40,000 franchisees from many of Canada’s best-known and emerging franchise brands. Beyond its role as the voice of the franchise industry, CFA strengthens and develops franchising by delivering best-practice education and creating rewarding connections between Canadians and the opportunities in franchising. Franchising is the 12th largest industry in Canada and franchised businesses contribute almost $150 billion per year to the Canadian economy, creating jobs for almost two million Canadians.
