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Finance committee Thank you, Mr. Chair, and good evening. Hello again to the members of the committee. As many of you heard last week, CFIB is a not-for-profit, non-partisan organization representing more than 109,000 small and medium-sized businesses across Canada that collectively employ more
November 25th, 2013Committee meeting
Monique Moreau
Finance committee It certainly will be. We can get this breakdown for you by region, where you'll see it does move up. However, members across the board are telling us that they're having difficulty finding labour. While the issue may be lower on this list, it's not substantially lower. It's cer
November 20th, 2013Committee meeting
Monique Moreau
Finance committee It's certainly a lower priority when compared with some of the others. We are finding that credit unions, for example, are increasing their availability to small businesses. They take over, in a sense. Where they may get turned down by a bank, many business owners will go to a c
November 20th, 2013Committee meeting
Monique Moreau
Finance committee It is a big challenge. We are in the process of surveying our membership on what they are doing in their own businesses and for their employees as to what resources they have available for their retirements right now. We're trying to broaden the scope. We're looking at the sale
November 20th, 2013Committee meeting
Monique Moreau
Finance committee I believe we have that figure, but I don't have that information with me at this time. I can attempt to get that information for the committee.
November 20th, 2013Committee meeting
Monique Moreau
Finance committee I'll start. We would have to go to our members on this issue specifically. We operate by survey research, so for this particular issue, we would need to get their views on it. We generally find that on tax issues, our members want competitiveness and fairness, and to be able to
November 20th, 2013Committee meeting
Monique Moreau
Finance committee We are in the midst of planning our lobbying and legislative affairs for 2014. So I'm not sure where it is on the list, but...
November 20th, 2013Committee meeting
Monique Moreau
Finance committee We support attempts to foster innovation at all levels. SR and ED has its good points. It is a very difficult and expensive credit to gain. Many of our small business members have told us that they need to hire consultants to help them navigate the red tape and to apply. The bene
November 20th, 2013Committee meeting
Monique Moreau
Finance committee The rate has actually decreased but not at the same rate as the general rate has decreased.
November 20th, 2013Committee meeting
Monique Moreau
Finance committee In the sense of the value of the rates, the spread is not as high. So, yes, there were increased cuts to the corporate rate in general that weren't reflected in the small business rate.
November 20th, 2013Committee meeting
Monique Moreau
Finance committee Right, so we're addressing the erosion of that value for owners of small businesses.
November 20th, 2013Committee meeting
Monique Moreau
Finance committee The key piece in that whole rate freeze is exactly that: it's the freeze. It's rate stability. Of course, deficits in the programs and the rather unpredictable nature of having rates go up and down, up during a recession and down when times are good—that was a very challenging
November 20th, 2013Committee meeting
Monique Moreau
Finance committee As I mentioned in my presentation, the CPP/QPP payroll tax is the granddaddy of all payroll taxes. It is by far the biggest. The CPP is 4.9% on wages. Our members have told us that they will not hire as they had planned to, or they will have to lay off staff, or they will be loo
November 20th, 2013Committee meeting
Monique Moreau
Finance committee The credit was a critical tax credit for the smallest of businesses especially. It allowed them to in some cases keep their staff on hand. Mr. Flaherty said in his most recent economic update that payroll taxes are job killers. Increases in payroll taxes, whether they are EI,
November 20th, 2013Committee meeting
Monique Moreau
Finance committee There is no question that the EI hiring tax credit was enormously popular with our membership and very well used. We are in a different situation this year given the freezing of EI rates. So we are examining what would be most useful to our members now and looking at that credit
November 20th, 2013Committee meeting
Monique Moreau