As you are all aware one of the most important initiatives that the CSSA is working on is the Active/Passive Tax exemption that we have been requesting from our Federal Government. Please find below a portion of the final submission that Mr. Dan Kelly, President of the Canadian Federation of Independent Business made to the Federal Government prior to the 2019 Federal election. Although we still do not have the positive outcome that we require, please note that the CSSA stands right beside the CFIB and we will never give up fighting for this one. Please read on….
“CFIB continues its efforts to fight for tax fairness on behalf of independent businesses affected by so-called passive investment rules. Many CFIB members in the self-storage industry and campgrounds have been subjected to CRA audits denying them access to the same tax treatment as other small and medium-sized businesses.
The rules themselves are deeply unfair and demonstrate that government does not understand the hard work involved in running a small firm in these sectors. CFIB called on all parties to commit to fixing this problem in their 2019 election platforms and will continue to push the minority government as we approach the 2020 budget. It will remain a priority issue for CFIB until a solution is found.”