Atlantic Canada's small businesses urged for reduced property tax rates, according to the Canadian Federation of Independent Businesses (CFIB) suggestion.
In a recent push for reform, the Canadian Federation of Independent Business (CFIB) has called on local and provincial governments in Atlantic Canada to address the high property tax burden faced by small businesses. The organization argues that these businesses are currently paying disproportionately high property taxes compared to residential properties, with small businesses in the region paying **2 to 3 times more in property taxes** than residential properties.
According to Duncan Robertson, CFIB's director of legislative affairs for Nova Scotia, this financial strain is due to Canada-US trade tensions, lower consumer demand, and high costs, which have left small business confidence on shaky ground. Robertson also stated that small businesses are asking for better value for their money, as municipalities are increasing costs without providing significant improvements in services.
To address this issue, the CFIB is urging governments to take two key steps:
1. **Reduce commercial property tax rates for small businesses**: By lowering these rates, the CFIB believes it will alleviate the financial burden on small businesses, helping them to survive and grow in the region.
2. **Close the property tax gap between commercial and residential properties**: The CFIB argues that this will ensure fairer taxation, making the tax environment more equitable for small businesses.
The CFIB's arguments are based on a recent survey of 412 CFIB members, which found that six in 10 small businesses have to increase prices to keep up with rising occupancy costs. The organization believes that these measures are necessary to support small businesses and improve their chances of success in Atlantic Canada.
New Brunswick's government has also shown a commitment to addressing the property tax issue, aiming to overhaul the system by the 2027 taxation year, with a focus on creating a more predictable, transparent, fair, and affordable system. Residents in New Brunswick are invited to participate in a public survey available online until Aug. 10 to provide their input on this matter.
The CFIB's broader advocacy includes requests for compensation to small businesses affected by construction disruptions, citing how ongoing construction negatively impacts sales and operations for many businesses. This focus on reducing economic challenges faced by small enterprises underscores the CFIB's dedication to supporting the small business community in Atlantic Canada.
- Small businesses in the region are facing financial strain due to Canada-US trade tensions, lower consumer demand, and high costs, according to Duncan Robertson, CFIB's director of legislative affairs for Nova Scotia.
- In response to the high property tax burden on small businesses, the Canadian Federation of Independent Business (CFIB) has urged governments to reduce commercial property tax rates for small businesses and close the property tax gap between commercial and residential properties.
- A recent survey by the CFIB found that six in 10 small businesses in Atlantic Canada have to increase prices to keep up with rising occupancy costs, highlighting the need for financial relief and fairer taxation.
%20suggestion.){kind=link}