The Canadian Federation of Independent Business Shares its 2015 Federal Budget RecommendationsBy Robert Robillard - 5 March 2015
This blogpost originally appeared on rbrt.ca.
On the dealings of small and medium businesses with the Canada Revenue Agency, the CFIB has the following recommendations:
- Make the Liaison Officer Initiative Permanent;
- Enable the Canada Revenue Agency (CRA) to honor all written advice in tax bulletins (expanded from honoring written advice through My Business Account);
- Ensure all bulletins, letters and correspondence to taxpayers are written in plain language;
- Equalize the interest differential between money owed by CRA and money owed by taxpayers;
- Make the audit process less intimidating;
- Keep pace with the changing world of work;
- Review rules used to define passive versus active income; and
- Introduce a simplified method for calculating home-based business expenses.
Also in the report is the recommendation that the small business tax rate should be reduced from 11 per cent to 9 per cent in Canada.
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