After their PST hike hurt all businesses, producers and families, the Sask. Party again fell short today with their Bill 84 which will only help a very small portion of businesses – those that are already making over $500,000 a year. The NDP is committed to finding ways to support all small businesses in Saskatchewan.
“If the Sask. Party was at all serious about helping small businesses, they would reverse their PST hike that has hurt all small businesses, producers and families throughout the province,” NDP Finance Critic Cathy Sproule said. “We will continue to fight for small businesses but we will not support the Sask. Party’s attempts to help only the wealthy and well-connected.”
When Sproule asked the former Finance Minister about the proposed changes he said:
“No, corporate income tax rate cut applies to a business that’s in excess of $500,000 in taxable income. So, you could have a small business making $600,000 in taxable income, and there are a lot of them in this province. I dare say I’ve got some colleagues in my caucus, caucus colleagues that run some of those businesses. They’re going to receive a corporate income tax cut. It is a business tax cut. It’s not just for the corporations.” - Hon. Kevin Doherty, May 11, 2017.
“We absolutely should be doing more to support small businesses throughout the province, but the fact is, the Sask. Party’s Bill 84 will only help one in 13 small businesses,” said NDP Economy Critic Cathy Sproule. “Nowhere else in Canada are businesses that earn over $500,000 considered small businesses. We need solutions that help everyone, not just the select few.”