Tory commits to increasing small business tax break by 5 per cent if re-elected

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“In order to keep smaller businesses, the backbone of our city economy and of all the neighbourhoods in the city, there's more to be done.'

In a campaign announcement Friday morning, Tory said he is committed to helping small businesses recover from the COVID-19 pandemic and manage increased costs due to inflation and rising interest rates.

Increase the tax discount for the small business subclass from 15 to 20 per cent, and work with the Ontario government to ensure they match the same discount on provincial property tax billsAppoint a councillor as the Mayor’s Champion for Red Tape Reduction to identify and lead efforts to make it easier for small businesses to open and stay open

Tory says so far 29,000 eligible businesses are currently receiving both the municipal and provincial property tax discounts this year.

 

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