PC plan to cut taxes, freeze power rates, create jobs
HALIFAX, NS – A Progressive Conservative government will make Nova Scotia a tax-free zone for small businesses by scrapping the small business tax.
Baillie made the announcement at The Bluenose Restaurant and Grill, a Halifax landmark that employs 27 people.
“High taxes are one of the barriers that keep small businesses from growing and thriving,” Baillie said. “We will cut small business taxes to zero so small employers can pay workers instead of the taxman.”
Presently, the small business tax rate in Nova Scotia sits at 3.5 per cent. Reducing that rate to zero will put more than $62 million into the hands of Nova Scotian job creators and give Nova Scotia the lowest small business tax in Canada.
“When taxes go up and up, it makes it harder and harder for me to pay my staff,” said John Carvalho, owner of the Bluenose Restaurant. “A tax break like this will free up money to hire more staff.”
A Progressive Conservative government will also increase the small business threshold from $350,000 to $500,000. That means more businesses will pay no business tax.
“When there are 43,000 unemployed Nova Scotians and many more who have gone out west or have given up hope, reducing the small business tax rate to zero is a concrete measure that will help create jobs and restore hope of a job to many Nova Scotians,” Baillie said. “It’s change that works.”
The NDP built barriers that prevent Nova Scotia small businesses from thriving: the highest taxes in Canada, the highest power rates, job-killing labour laws and more red tape are holding job creators back.
The Liberals have no plan to jump start job creation. They won’t lower taxes, they support job-killing labour laws and they have a scheme that will raise power rates.
Only a PC government has a real plan that will create real jobs.
In its Interim Report, the Nova Scotia Commission on Building Our New Economy heard from Nova Scotians that our province needs to do more to help businesses grow. They heard from numerous business people that the burden of combined income, property, and business taxes is a deterrent to business attraction and development.
“The PC plan to scrap the small business tax rate will ease that burden and allow the hardworking men and women who run businesses to do what they do best – create jobs and prosperity in their communities,” Baillie concluded.