It's absolutely devastating, for sure.
Stimulating business activity, job creation and growth should be the key objectives underpinning the design of our tax system. SMEs were responsible for creating 95.4% of private sector jobs in Canada between 2005 and 2015. As of 2015, SMEs employed 10.5 million, or 90.3%, of private sector workers across Canada, yet the taxation of SMEs has been subjected to layer upon layer of complex changes over the years. They're having trouble keeping up. As well, costs for compliance are increasing.
Why does the taxing of small business continue to be so punitive when they are the source of new jobs in Canada?