Thompson Local News

Federal budget is just what Manitoba's small businesses need

Small businesses will benefit with the new proposed Federal budget.

 

CFIB Director of Provincial Affairs for Manitoba, Elliot Sims, tells us why the organization graded the federal budget with an “A”: "Our number one priority for Manitoba small businesses was to lower the small business corporate tax rate from 11 -9 %. So what this means for Manitoba small businesses, is that if you have $100,000  in taxable income, by 2019 when the tax cut is fully implemented, you’ll be paying $2,000 less in corporate taxes".

 

Sims says this is money small business owners will use to reinvest into their business or into their employees, either through higher wages, benefits, or training.

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