Mr. Speaker, I am very pleased to announce that this Conservative government is helping every Ontario business.
Starting today the Canada Revenue Agency will assume most of the Ontario Ministry of Revenue's corporate tax administration functions, such as audits, appeals, objections and rulings.
This government will reduce the burden on Ontario businesses by streamlining the administration of Ontario's corporate income tax. This means that Ontario businesses will now have a single tax return and a single set of tax rules which will save millions of dollars and hours of time.
The Ontario Chamber of Commerce said, “This streamlining will save Ontario businesses $100 million to $150 million each and every year in time and money creating room for more investment in the things that will make our economy grow, like human capital, new equipment, and research and development”.
Unlike the previous Liberal government, this government has taken action to ensure that Ontario businesses are even more competitive in the global economy. Once again, this government is getting the job done.