Co-operatives and Mutuals Canada recently submitted its recommendations to the federal government of Canada for the upcoming 2024 federal pre-budget consultations.
CMC’s seven recommendations focus on making sure fiscal and financial measures are taken for the co-operative and mutual sector and that investments are made by the federal government to ensure growth and prosperity within the movement. It also includes the recommendation to create a Canadian Co-operative Capacity Building Program that would help co-operatives start up, scale up, gain skills and expertise, and prepare for their next steps so they are ready to solve community challenges and meet needs across Canada. Other recommendations include:
- Ensuring co-operatives are not prevented from claiming the Small Business Deduction,
- Ratifying the extended Tax-deferred Co-operative Share Program as a permanent fiscal measure,
- Establishing a federal co-operative investment plan,
- Implementing fair tax treatment for co-operatives with an indivisible reserve,
- Re-establishing and resourcing a Co-operatives Secretariat, and;
- Encouraging business conversions to co-operatives.
To learn more, we encourage you to take a look at our submission by clicking the button below. For more information, please contact Diamond Isinger, Director – Advocacy, at disinger@canada.coop.