Toronto, October 30, 2024 – On behalf of our 38,000 small- and medium-sized business members in all sectors across the province, we commend the provincial government for extending its gas and fuel tax cuts for another six months, providing much-needed cost relief and certainty. The federal carbon tax keeps increasing the already high costs of gas and fuel, putting significantly more pressure on the cost of doing business.
Extending the gas and fuel tax cuts was one of CFIB’s top three small business priorities for the Ontario legislature’s Fall sitting.
We also asked the Ontario government to ensure that the Workplace Safety and Insurance Board (WSIB) returns another round of surplus rebate funds to eligible employers, while lowering the average WSIB premium rate for businesses at the same time.
Government could move quickly on CFIB’s long-standing tax asks by passing Private Member’s Bill 195 when it’s debated on November 7. This legislation would reduce the SBTR from 3.2-1.6% and elevate its threshold from $500,000-$600,000. Ontario’s Small Business Tax Rate is still the highest in the country – tied with Quebec – and its threshold has been stuck at the same amount for 17 years.
The government’s continued focus on record infrastructure spending highlights the urgent need for a comprehensive provincial construction mitigation program that includes direct compensation to small businesses for lengthy, disruptive builds. While everyone loves a finished project, small businesses must first survive the construction process before they can benefit. Mitigation measures and funds should be required for all future provincially funded construction projects. The government should also clear the legislative path for municipalities to provide similar financial support for local projects.
We look forward to reviewing the Ontario Economic Outlook document in detail and participating in the government’s 2025 pre-budget consultations.
-Ryan Mallough, Vice President, Legislative Affairs (Ontario)
-Julie Kwiecinski, Director of Provincial Affairs (Ontario)
For media inquiries or interviews, please contact:
Dariya Baiguzhiyeva, CFIB
647-464-2814
public.affairs@cfib.ca
About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 97,000 members across every industry and region, including 38,000 in Ontario. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.