On­tario tax plan strength­ens Corn­wall’s econ­omy

Seaway News - - NEWS -

On­tario is mak­ing it eas­ier to do busi­ness in ru­ral com­mu­ni­ties like Corn­wall thanks to a tax plan that will at­tract in­vest­ment and in­crease eco­nomic com­pet­i­tive­ness.

Start­ing July 1, Corn­wall busi­nesses will deal with one sales tax in­stead of two, one set of rules in­stead of two and one level of govern­ment in­stead of two. It is es­ti­mated that busi­nesses across On­tario will save more than $500 mil­lion a year in ad­min­is­tra­tive and com­pli­ance costs.

These changes and sig­nif­i­cant sav­ings will en­hance Corn­wall’s “Progress Boule­vard,” a three-year his­toric down­town re­vi­tal­iza­tion strat­egy de­vel­oped to help re­tain and ex­pand Corn­wall’s busi­nesses and strengthen the com­mu­nity. More busi- nesses will be able to pros­per and new stores are ex­pected to open, cre­at­ing new jobs and bring­ing more peo­ple to the down­town area.

The tax pack­age is a key com­po­nent of the five-year Open On­tario plan to strengthen the econ­omy and cre­ate more jobs for On­tario’s fam­i­lies.

“Our new tax plan is help­ing cities like Corn­wall re­vi­tal­ize their down­town cores and strengthen ru­ral com­mu­ni­ties. When the HST be­gins on July 1, it will help our ru­ral com­mu­ni­ties re­tain and cre­ate jobs, make busi­nesses more com­pet­i­tive and boost­ing lo­cal economies,” said Carol Mitchell, Min­is­ter of Agri­cul­ture, Food and Ru­ral Af­fairs

“To those of us who have been work­ing to­wards Re­vi­tal­iza­tion of Down­town Corn­wall, the Progress Boule­vard (Main­street) fund­ing is very well timed and greatly ap­pre­ci­ated. Corn­wall is one of six On­tario com­mu­ni­ties that can bring their com­mu­nity stake­hold­ers to­gether to share their vi­sion on com­mu­nity devel­op­ment and ad­vise the or­ga­ni­za­tional struc­ture to im­ple­ment that vi­sion. Build­ing on the suc­cess of Heart of the City as a re­vi­tal­iza­tion ini­tia­tive, we look for­ward to con­tin­u­ing Corn­wall’s suc­cess story,” added Bryan Merkley, Chair, Progress Boule­vard.

Ad­di­tion­ally, MPP Jim Brownell added, "I know there is a lot of mis­in­for­ma­tion out there re­gard­ing the HST, such as the oppo- sition ne­glect­ing to men­tion per­sonal in­come, new prop­erty, en­ergy and sales tax cred­its, and I truly be­lieve our res­i­dents will have more money in their pock­ets be­cause of these and by sim­pli­fy­ing the sales tax. Also, ru­ral small busi­nesses will be more com­pet­i­tive be­cause of cor­po­rate tax breaks and the elim­i­na­tion of the small busi­ness de­duc­tion sur­tax.”

Ex­perts say On­tario’s tax plan, which in­cludes tax breaks for peo­ple and large and small busi­nesses, will lead to in­creased in­vest­ment and al­most 600,000 new jobs. A sin­gle tax sys­tem will put On­tario on a level play­ing field with four other prov­inces and 140 other coun­tries that al­ready have a value added tax like the HST.

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