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The Canadian Federation of Agriculture has joined a new national tax coalition calling for changes to Canada’s tax structure.
The Chartered Professional Accountants of Ontario leads the group, which includes chambers of commerce and the Canadian Federation of Independent Business. Grain Farmers of Ontario is also a member of the combined groups, which represent 700,000 businesses and professionals.
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Carol Wilding, CEO of the Chartered Professional Accountants of Ontario, said the coalition wants the review included in the Nov. 5 federal budget.
“Canada must act now to reset its economic trajectory with a redesigned tax system focused on growth, competitiveness and innovation,” Wilding said. “While targeted tax reforms are needed, Canada also urgently needs a generational review to ensure our tax system positions Canada for the economy of the 21st century.”
The group said the introduction of the productivity mega-deduction was an important step, but more is needed. The coalition wants reform that incentivizes entrepreneurship and growth, improves global competitiveness, simplifies the tax system, supports the growth of small businesses and builds a tax system for a modern, AI-driven economy.
Canadian Federation of Agriculture president Keith Currie said farm businesses are capital-intensive, multi-generational enterprises that require long-term investment and planning.
“Modernizing Canada’s tax system can help ensure farm families have the confidence to invest, innovate and pass productive operations on to the next generation of Canadian farmers,” Currie said.
Drew Spoelstra, president of the Ontario Federation of Agriculture, said reducing farm taxes is the number-one priority for farmers, adding that the tax system must support farm succession, reinvestment and long-term competitiveness.
