SKY HIGH COSTS ARE CRUSHING MY BUSINESS!

Government needs to reduce the cost of doing business in Canada!

QPP

Since 2019, the maximum QPP contribution payable increased by up to $1,357 per employee!

*Amounts are doubled for self-employed.

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EI

Since 2019, the maximum EI contribution has increased by more than $239 per employee!

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Labour & Insurance Costs

Since 2019, labour costs are up 25%1.

Insurance cost concerns have increased 41%2 since 2019.

1. Source: Statistics Canada
2. Source: CFIB monthly Business Barometer

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Huge subsidies for Big Business!

The government can find BILLIONS for foreign-owned car companies, but where’s the help for small business?

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Capital gains hikes!

In June 2024, the federal government increased the capital gains inclusion rate from 50% to 66.7%!

In June 2024, the federal government increased the capital gains inclusion rate from 50% to 66.7%

Hon. Chrystia Freeland, Deputy Prime Minister & Minister of Finance
Hon. Eric Girard, Minister of Finance for Quebec

CC: My Member of Parliament

The cost of everything is going up! In the last five years alone: the QPP is up, now EI premiums are up! The costs of labour and insurance have skyrocketed.

Now, new changes to capital gains are squeezing my savings!

My business can’t take it! It’s time for you to step in and reduce the cost of doing business in Canada!

To keep small businesses like mine on track, I am urging you to:

  • Introduce a lower Employment Insurance (EI) premium rate for smaller employers.
  • Pause any QPP premium or threshold increases.
  • Reduce the Small Business Tax Rate and increase the Small Business Tax Rate threshold to $700,000 and index it to inflation.
  • Keep the capital gains inclusion rate at 50%, instead of increasing it to 66.7%.
  • Expand the new Canadian Entrepreneurs Incentive to all business sectors.
  • Include the sale of assets in the calculation for the Lifetime Capital Gains Exemption and the Canadian Entrepreneurs Incentive.
CFIB logo

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. 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.