Chamber Of Commerce Calls For Tax Holiday

The Canadian Chamber of Commerce wants temporary relief from the GST/HST to help the economy bounce back from the COVID-19 pandemic. It has set out a number of measures it says will help in the economic recovery. These include allowing 100 per cent deductibility on capital expenditures in the year incurred, simplifying the tax-on-split-income rules, increasing the lifetime capital gains exemption limit, and making childcare an eligible business deduction. By doing this, both small- and medium-sized businesses can benefit and assist in improving the economy, it says.