Harper offers tax relief to small businesses
Last Updated: Wednesday, December 7, 2005 | 12:14 PM ET
CBC News
Harper was in Saint John, N.B., at the site of a small manufacturing business to announce that his party would raise the threshold for the small business tax rate to $400,000. Currently it's $300,000.
Businesses with an income above the threshold pay 21 per cent tax. Below it, they pay 12 per cent.
"This was the number 1 recommendation of a recent survey conducted by the Canadian Federation of Independent Business," Harper said.
Tory Leader Stephen Harper, Wednesday.
Harper said tens of thousands of businesses would benefit from raising the threshold.
A Tory government, he said, would also reduce the small business tax rate by a percentage point, to 11 per cent, within five years, he said.
"Canada needs small business, but more importantly, small business needs a government in Ottawa that's on the side of the people who work for themselves," Harper said.
"There's nothing more important that we can do for small business than help owners keep more of their own money. And if elected, that's what we're going to do."
He also said his party would provide a 10-per-cent tax credit for businesses that hire apprentices. He said the credit would provide assistance to businesses to hire up to 80,000 apprentices.
