Canadian Chamber Analysis of 2015/16 Federal Budget

See the link below for the Canadian Chamber of Commerce summary of the federal government’s 2015/16 Budget.  There are a number of paragraphs highlighted that reflect “wins” for the North and small and medium sized enterprise across the country.  Among them:

NWT Debt Cap

The debt caps for the Northwest Territories and Nunavut will be raised to $1.3 billion and $650 million respectively (pending Governor-in-Council approval) increasing the amounts these territorial governments can borrow to invest in the infrastructure needed for private sector economic development.

SME Tax Savings

The big highlight was that the small business tax rate will be reduced from 11% to 9% by 2019 (0.5% reduction each year starting Jan 1, 2016), resulting in $2.7 billion in tax savings through 2020.

Both of these are issues that both the Canadian Chamber and the NWT Chamber have been advocating for some time.


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Angela About Angela

Hi, I am Angela Fiebelkorn, President of the Fort Simpson Chamber. You can contact us at fscofc@gmail(dot)com or call 867-695-6538.