Tax break for small businesses flatly rejected by council committee
Arguing that it constituted a tax shift rather than a tax break, city council’s Corporate Services Committee unanimously voted against creating a new property tax class for small businesses.
The province recently gave municipalities the ability to create a new Small Business Tax Class, separate from industrial, agricultural, residential and other commercial classes.
The new classification could be used to reduce the municipal rate on small business tax bills by up to 35 per cent by shifting that tax burden onto the other tax classes.
The city would also be tasked with defining what constitutes a ‘small business.’
London Mayor Ed Holder suggested the proposal wasn’t worth the time already dedicated by staff to analyze the implications and prepare a report.
“I’m just sorry that staff put any time in this,” Holder told the committee. “As much as I and we on council support small business, how ever small business is defined, to do that at the expense of other tax classes for businesses is wrong.”
Deputy Mayor Josh Morgan was equally blunt.
“There is no secret pot of money to support small businesses with,” Morgan told the committee. “All we would end up doing is shifting the tax burden from one group of taxpayers to another.
The committee recommended receiving the report and to take no action.
The report will be in front of city council on August 10.
CTVNews.ca Top Stories
BREAKING King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
BREAKING Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
'Unacceptable': Trudeau reacts after AFN chief says headdress taken from plane cabin
After the Assembly of First Nations' national chief said her headdress was taken from an airplane cabin this week, Prime Minister Justin Trudeau called the incident 'unacceptable' and a 'mistake' on the part of Air Canada.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.