A Royal Commission for a Royal Pain
Publications & Media
The Medicine Hat & District Chamber of Commerce calls for a comprehensive review of the Canadian tax system
According to the Medicine Hat & District Chamber of Commerce local businesses and tax practitioners are frustrated by the need to commit significant time, often at considerable expense, to deal with taxation and filing issues. Canadian businesses spend 131 hours on average to prepare and pay their taxes. That is more than three weeks wasted productivity, when other countries do it in half the time.
In our region small business comprises 96% of all businesses with many of our entrepreneurs wearing many hats within their organization and within our community. This type of regulatory burden and loss of productivity has time and cost implications on these small businesses with the added burden of having to deal with a complicated tax regime.
“Business owners want to spend time growing their business and contributing to the economy not trying to navigate the complicated world of tax compliance,” stated Sarah MacKenzie, 2018 - 2019 Chamber of Commerce President. “That’s why we are joining hundreds of other chambers of commerce and boards of trade from across the country in calling for a comprehensive review of the Canadian tax system.”
Canadian business is in strong agreement that the federal government should undertake a whole-of-system review, guided by the principles of tax competitiveness, simplicity, fairness, and neutrality. The inquiry should explore the most impactful tax policy solutions, such as adjusting the tax mix to better promote investment and growth, legislating a Taxpayer Charter of Rights, and providing a representative for small business to resolve conflicts with the Canada Revenue Agency.
“50 years of cutting and pasting has left Canada’s tax system uncompetitive, cumbersome, and inefficient. By any measure, Canada’s tax system is a failure to Canadians and the businesses that employ them, deterring investment and the attraction of top talent. Our message to politicians is clear: we need a Royal Commission on tax, with everything on the table, to help ensure Canadian companies can grow and compete,” further commented MacKenzie. “Our outdated tax system has not kept up with the times. It’s time to stop trying to fix issues with band aid solutions. We need a new system, built from the ground up, for the realities of today and the economy of tomorrow”.
To view our policies on this issue please visit: https://medicinehatchamber.com/pages/Advocacy
To view the report on 50 years of Cutting and Pasting: Modernizing Canada’s Tax System: download the report here.
To view the Canadian Chamber of Commerce finance and taxation policies visit: http://www.chamber.ca/advocacy/policy-resolutions/finance-and-taxation/
Please direct all media inquiries to:
Sarah MacKenzie, 2018-2019 President
Medicine Hat & District Chamber of Commerce
(403) 527-5214 ext.221