City of Toronto Discussion Paper on Small Business Taxation


March 25, 2016

 

 

Screen Shot 2016-03-25 at 3.25.44 PM

The Small Business Council Advisory Body of the City of Toronto have published a Small Business Taxation Discussion Paper. It is available to the public and is a highly recommended read for any small business owner.

Last April, the Deputy Mayor of Toronto held a Small Business Roundtable directed at understanding the challenges faced by small businesses and finding ways in which the City of Toronto can better help  as a result.

The primary issues identified revolved around the impacts of property taxes.

After collecting data and interviewing a collection of small business owners (testimonials and stories are included in this discussion paper), the Small Business Council Advisory Body found three main property tax-related issues that impact small businesses in Toronto:

  • Disparity between residential and commercial property tax rates
  • Disparity between the level of the business education tax in Toronto versus neighbouring municipalities
  • Commercial property assessment levels in rapidly developing areas.

To read further, please download the Discussion paper here.