The Canadian Federation of Independent Business seeks federal government assistance for small businesses affected by the upcoming GST holiday. They propose a minimum credit of $1,000 to cover reprogramming expenses, citing lack of resources and skepticism over the holiday's effectiveness.
The Canadian Federation of Independent Business is urging the federal government to provide compensation to small businesses for the costs associated with implementing the two-month GST holiday. The organization suggests a minimum credit of $1,000 for small firms to cover the expenses of reprogramming point-of-sale systems. CFIB president Dan Kelly highlights that small businesses , especially in retail, lack the resources to accommodate the temporary tax change and doubts its effectiveness.
An online survey by the CFIB reveals that only 4% of small business owners expect increased sales from the holiday, while 66% believe it will merely shift sales to the holiday period. The proposed GST holiday on specific goods is scheduled to start on December 14 and last for two months
GST Holiday Small Businesses Canadian Federation Of Independent Business CFIB Compensation
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