Busi­ness group calls for lower tax rate for women-con­trolled com­pa­nies

The Standard (St. Catharines) - - Canada & World -

OT­TAWA — A cross-bor­der coun­cil on women in busi­ness rec­om­mends that com­pa­nies con­trolled by women should get lower tax rates.

The Canada-United States Coun­cil for Ad­vance­ment of Women En­trepreneurs and Busi­ness Lead­ers made the sug­ges­tion in a re­port re­leased Wed­nes­day that of­fered rec­om­men­da­tions on how com­pa­nies can better sup­port women in busi­ness.

The group in­ter­viewed in­vestors, in­sti­tu­tions, as­set man­agers, pen­sion funds and ven­ture cap­i­tal firms and found that women are not be­ing fi­nan­cially backed at the same level as men and are less likely to have lead­er­ship roles within cor­po­ra­tions.

That’s why it called for a lower tax rate for women-owned busi­nesses, sim­i­lar to the lower rates al­ready of­fered to pri­vate cor­po­ra­tions that are Cana­dian-con­trolled.

It says a lower tax rate could en­cour­age more women to cre­ate and lead com­pa­nies and in­cen­tivize busi­nesses to in­clude women in their suc­ces­sion plan­ning and own­er­ship roles.

It called on cap­i­tal providers to make mar­kets more hos­pitable for women by ex­pand­ing or mod­i­fy­ing their of­fer­ings to tar­get fe­male en­trepreneurs.

The coun­cil was cre­ated by Prime Min­is­ter Justin Trudeau and U.S. Pres­i­dent Don­ald

Trump last year and aims to help women-owned busi­nesses con­trib­ute to eco­nomic growth, com­pet­i­tive­ness and the in­te­gra­tion of the two economies.

The group also en­cour­aged the Cana­dian and U.S. gov­ern­ments to con­tinue to pur­sue pro­grams that en­sure women-owned busi­nesses are in­cluded in gov­ern­ment ten­der pro­cesses on a pre­ferred ba­sis, that push com­pa­nies to adopt clear and strong di­ver­sity poli­cies and that in­crease the num­ber of women in key roles that in­flu­ence in­vest­ment de­ci­sions.

The coun­cil is made up of 10 fe­male ex­ec­u­tives — half from Cana­dian com­pa­nies and the other half from Amer­i­can com­pa­nies.

The Cana­dian mem­bers in­clude CEOs An­nette Ver­schuren, of NRStor Inc., Dawn Far­rell of Tran­sAlta Corp., Linda Hasen­fratz of Li­na­mar Corp. and Tina Lee of T&T Su­per­mar­ket Inc.

SEAN KILPATRICK THE CANA­DIAN PRESS

Prime Min­is­ter Justin Trudeau meets fe­male ex­ec­u­tives and U.S. Pres­i­dent Don­ald Trump at the White House in Fe­bru­ary 2017.

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