The London Free Press has a report concerning Stephen Harper speaking in Saint John yesterday about further small business benefits.
Companies pay 12-per-cent tax until their profits reach $300,000. Then the levy jumps to the corporate rate of 21 per cent.
The Conservatives want to raise that tax threshold to $400,000, a move Harper said was recommended by the Canadian Federation of Independent Business.
But lowering the tax rate itself to 11 per cent would take more time, Harper said.
This seems to be a more sensible move to stimulate the economy than lowering the GST, although I am a biased small business owner. It certainly follows the classic conservative standpoint of little government involvement in business, yet with all these cuts one wonders where the money to fill the federal coffers will come from?