Indo-Canada Chamber of Commerce brings out its weekly Newsletter Feb 19

ICCC Weekly Newsletter

19 FEBRUARY

President’s View

RIPUDAMAN SINGH DHILLON

ICCC recommendations for Ontario Budget

On behalf of our Chamber, I thank Hon. Prabmeet Sarkaria for giving our Chamber an opportunity to participate in this pre-budget consultation. The ICCC is one of the largest diaspora business organizations representing Indo-Canadian micro, small and medium businesses since 1977.

The pandemic and the lockdowns have resulted in both closure of business and loss of revenue for small businesses and have affected minority-owned businesses more.

I appreciate the efforts of the PC government in Ontario to support small businesses through the entire period and help them survive the economic uncertainties during the last two years. Now, when the pandemic appears to have become less virulent, it is important that the PC government continues to maintain its support to small businesses.

The ICCC believes that this can be done in the following ways:

Continuing all the rebate programs that were announced in the last two years for at least the next six months. Specific provisions as contained in Ontario Business Costs Rebate Program may be maintained for the next six months, or, if necessary, to be extended throughout the budget year.

The continuation of the following measures throughout the budget year:

• Reduction in Workplace Safety and Insurance Board (WSIB) premiums
• Allowing businesses to accelerate write-offs of capital investments for tax purposes
• Reducing the small business Corporate Income Tax…