Allowing businesses to write off investments is getting the federal government praise from Thunder Bay’s Chamber of Commerce.
The move is part of Ottawa’s economic statement, which President Charla Robinson notes will benefit many local businesses.
“For all businesses, of all sizes, all sectors, they’re introducing an quicker investment incentive, so you can write off 3 times of what you used to be able to write off for those newly acquired assets, so this is a positive thing.”
She adds Canada will be more competitive.
However, the President is concerned there doesn’t seem to be a realistic strategy to balance the budget, something the Liberals promised to do by 2019.
She’s also disappointed Canada’s tax system hasn’t been reviewed, adding this is something they’ll continue to work towards.
“Our tax system has become very complicated and its very challenging for any business to make sure they’re doing it properly, and that leads to red tape and extra challenges.”
However, the President adds she likes Ottawa’s plan to get rid of trade barriers across the country.
