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 the local communities they support. 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 cooperative movement!
For more information on CMC’s submission, please contact Daniel P. Brunette, Senior Director, External Affairs.