QUESTION PERIOD — Finance
Small Business Tax Regime
March 12, 2026
The Fraser Institute estimates that personal income tax compliance costs have risen to $4.2 billion annually. The complexity and size of the tax system in Canada have continued to grow without any meaningful review.
Senator Moreau, will the government heed the calls from businesses as well as experts to review and simplify the tax system in order to reduce compliance costs, particularly for small businesses, which are already facing major financial pressures?
That is a good question, Senator Smith, and the government is aware of the pressure on small businesses in Canada. The government is making very important moves in order to help small businesses. My previous answer gave you a few cues on that, and the government is committed to continuing to help small- and medium-sized businesses in Canada.
