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| Businesses will carry most of the carbon tax load |
The people i.e. drivers in Manitoba, Ontario, Saskatchewan & New
Brunswick shall be paying more for gasoline and heating fuel. This legislation
is under the new carbon tax scheme that began on 1st April. Hence,
in the shadow of darkness are some vital businesses. The trading of many
businesses has been exposed, this is with special significance to the ones that
are ‘trade-exposed’ large companies with certain types of operations.
However, these shall
be subject to a carbon tax emission that exceeds certain annual limits. Hence,
there are high expectations to pay the taxes for a vast majority of small &
medium-sized businesses.
CFIB or Canadian
Federation of Independent Businesses says that they need answers that are
concrete from the federal Govt. Still unaware and confused about what these
exemptions shall look like in the future is the need of the hour. The director of
Provincial affairs for Manitoba Mr. Jonathan Alward added that there are huge
ambiguities on how these exemptions shall look like in the future.
For the residents of
Canada what’s most concerning is that what the residents know exactly what’s
coming back to them in the form of rebates or exemptions. This is even though the
businesses are footing the bulk of the carbon tax bill and they are receiving
pennies on the dollar back. Which means no profitability or low profitability
and a question mark on how the carbon tax is going to be applied. In most
circumstances, it looks like the small businesses in the majority of the parts
shall be subsidizing the rebates. Hence, returned to the individuals in rebates
in almost 90% of the money from taxation. The rest of the 10% is booked or
earmarked for universities and municipalities.
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