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Small businesses still being taxed on carbon rebates, federation says

Small businesses in Canada are still being taxed on their carbon tax rebates, according to the Canadian Federation of Independent Business and the Canada Revenue Agency .
The CFIB states that the CRA considers the rebate as 'Assistance received by the taxpayer from a government in the taxation year in which the assistance is received' and subject to income tax.
The CFIB is urging Parliament to pass legislation to make the rebate tax-free and to freeze a planned 19 percent increase in the carbon tax set for April 1.
CFIB President and CEO Dan Kelly noted that the prorogation of Parliament complicates the situation, as only new legislation can override the CRA's decision.

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The Globe & Mail

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Small businesses still being taxed on carbon rebates, federation says

The prorogation of Parliament is not making the situation any easier, says CFIB president and CEO Dan Kelly, as only new legislation presented in Parliament can override this decision

13 days ago·Canada

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The Epoch Times

Small Businesses Still Being Taxed on Carbon Rebates, Federation Says

Small businesses across Canada are still being taxed on their carbon tax rebates, despite a commitment from the former finance minister that they would be tax-free, says the Canadian Federation of Independent Business (CFIB). The CFIB says it has been informed by the Canada Revenue Agency that the rebate is considered “assistance received by the taxpayer from a government in the taxation year in which the assistance is received” and that it’s su…

14 days ago·New York, United States

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Global News

Small businesses still being taxed on carbon rebates, federation says - National

Small businesses across Canada are still being taxed on their carbon tax rebates, despite a commitment from the former finance minister that they would be tax-free.

14 days ago·Toronto, Canada

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canadanewsvideo.com

Small businesses still being taxed on carbon rebates, federation says - National #Canada #CDNNews #Canadian #CDNEcon #Economy

Small businesses across Canada are still being taxed on their carbon tax rebates despite a commitment from the former finance minister that they would be tax-free, says the Canadian Federation of Independent Business (CFIB). The business group says it has been informed by the Canada Revenue Agency that the rebate is considered government assistance to taxpayers and that it’s subject to income tax. The federation says the CRA also told it that fo…

14 days ago

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1059theregion.com

Small businesses still being taxed on carbon rebates, federation says – 105.9 The Region

OTTAWA — Small businesses across Canada are still being taxed on their carbon tax rebates, despite a commitment from the former finance minister that they would be tax-free, says the Canadian Federation of Independent Business (CFIB). The CFIB says it has been informed by the Canada Revenue Agency that the rebate is considered “assistance received by the taxpayer from a government in the taxation year in which the assistance is received” and tha…

14 days ago

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