With regard to recovery, we're looking to focus on resolving gender-based issues, by lenders in particular, that affect women's ability to fund their businesses. I've experienced, on both sides of the gender spectrum, issues with bank loans. When there's so much uncertainty, this becomes quite an issue.
Going back to taxes, let's improve the tax regime affecting small business. We know small business is the backbone of our economy and has been particularly affected by the pandemic.
A very specific example is form T2200, which requires thousands of pages to be filled out by everybody across the country, not just one person, versus a check box. Let's streamline compliance, because every time we go to do something, it takes us time to leap over hurdles, as opposed to doing our jobs.
Let's allow capital expenditures, as I mentioned, and the setting up of home offices. There's now a dynamic approach to business in how everybody has had to shift, and we need to support that from a tax perspective, allowing deductions for expenses. Let's also encourage the continuation of business so that people can sell their businesses as opposed to just winding them up.
We're looking specifically at things like the capital gains exemption for small business, or even a new tax, like a tax on split income. We've spent a lot of time since 2018 talking about that extremely complicated piece of legislation. Let's streamline that to make it easier for people to understand how they can live by the rules and spend more time on their businesses being productive.
I mentioned already the disincentive we have for family businesses to continue selling from generation one to generation two and so on. It is a serious issue that is really catching people.
Before the pandemic, reducing red tape and streamlining compliance were, we think, key issues, and they will be post-pandemic especially.