CMC recently submitted its recommendations for the Government of Canada’s pre-budget consultations for its 2024 budget.
Through its submission, CMC explained how its 10 recommendations would help support co-operatives as well as their local communities. Here are the recommendations submitted:
Recommendation #1: Ensuring Access to Government-Funded Programs and Initiatives.
Recommendation #2: Increasing Support and Access to the Business Development Bank of Canada.
Recommendation #3: Ratifying the Tax-deferred Co-operative Share Program as a Permanent Fiscal Measure.
Recommendation #4: Promoting Business Conversions to Co-operatives for Economic Succession Planning.
Recommendation #5: Creating a Canadian Co-operative Capacity Building Program.
Recommendation #6: Ensuring that Tax Rules are Harmonized to Include Worker Co-operatives, When Providing Incentives to Facilitate the Creation of Employee Ownership Trusts.
Recommendation #7: Ensuring Co-operative Entrepreneurs and All Canadian-Controlled Private Corporations Can Access the Small Business Deduction (SBD).
Recommendation #8: Re-establishing and Resourcing a Co-operatives Secretariat within Innovation, Science and Economic Development Canada (ISED).
Recommendation #9: Establishing a Federal Co-operative Investment Plan, Inspired by Québec’s Co-operative Investment Plan (Régime d’investissement coopératif).
Recommendation #10: Implementing Fair Tax Treatment and/or Other Fair Public Policy Treatment for Co-operatives with an Indivisible Reserve.
Read the CMC submission to learn how each recommendation supports the Canadian co-operative movement!
For more information on CMC’s submission, please contact Daniel P. Brunette, Senior Director, External Affairs.