MPP Bill Walker says the Ontario government is announcing significant tax relief for small businesses (under 100 employees) that will help create jobs in Bruce-Grey-Owen Sound and across the province.

Cancelling the previous administration’s proposed tax hikes will save thousands of small businesses across Ontario up to $40,000 per year according to Mr. Walker, who added that the provincial government will also continue to push the federal government to stop tax changes related to passive income.

“We're leaving more money in the pockets of business owners, so they can invest and help create jobs here and across our region and province,” said MPP Walker who also serves as Minister of Government and Consumer Services. “Help is here for small businesses who work hard and want to get ahead.”

In addition to maintaining small business tax rates at their current levels, the government is also providing Employer Health Tax relief through an increase in the payroll exemption from $450,000 to $490,000 in 2019. If passed, this would generate $40 million in tax relief for businesses across the province.

The government has further committed to reducing red tape by 25 per cent by 2022. These measures are in addition to the government’s proposed legislation to repeal the red tape in Bill 148 and maintain the $14-an-hour minimum wage until 2020 to help businesses adjust, with future increases tied to inflation.

source: media release, Bill Walker MPP