Friday, October 25, 2013

CFIB Issues Business-friendly Tax Ranking



Small Business Provincial Tax Index

2013 Index Score
2013 Rank
2009 Rank
Alberta
8.53
1
1
Saskatchewan
7.01
2
3
New Brunswick
6.98
3
2
Newfoundland and Labrador
6.17
4
6
Prince Edward Island
5.90
5
7
Manitoba
5.67
6
5
British Columbia
5.65
7
4
Ontario
5.50
8
9
Nova Scotia
5.22
9
8
Quebec
3.97
10
10

British Columbia Slips 3 Points HST Switch Big Factor

Alberta and Quebec, which were best and worst by wide margins, were also at the top and bottom of the index when CFIB last ranked the provinces in 2009. British Columbia, however, dropped from 4th to 7th position.

“The return of the PST affected B.C.’s score on Sales and Excise Tax, and that has played a large role in dragging the province down three spots in the overall rankings,” said Mike Klassen, CFIB director of provincial affairs, British Columbia. “This is why, as soon as it is fiscally prudent to do so, B.C. should implement the Expert Tax Panel recommendation to provide a tax credit on PST paid on all acquisitions of machinery and equipment.”

To view the complete report click HERE.

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