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Oct 31, 2014 at 01:33 PM


Welcome to my online office. I have set up this website to give you a chance
to interact with me directly and to learn a little bit more about my work to
Stand Up for St. Catharines in Ottawa. I hope you will take the time to read
my blog, check out the community calendar and look at the services available
through my Community Office. Most of all, I hope you will take the time to
communicate your ideas and concerns by commenting on my blog, voting for the
online polls or sending me an e-mail. This website is here for you, so
please share your thoughts and ideas.

I look forward to hearing from you.

Rick Dykstra

Parliamentary Secretary to the Minister of Canadian Heritage

 
 

Government of Canada Introduces Small Business Job Credit
Sep 11, 2014 at 01:16 PM

New tax relief will save small businesses more than half a billion dollars over two years

Minister of Finance Joe Oliver today announced more action by the Harper Government to create jobs, growth and long-term prosperity: the introduction of the new Small Business Job Credit which is expected to save small businesses more than $550 million over the next two years.

The Small Business Job Credit will effectively lower small businesses’ Employment Insurance (EI) premiums from the current legislated rate of $1.88 to $1.60 per $100 of insurable earnings in 2015 and 2016. Any firm that pays employer EI premiums equal to or less than $15,000 in those years will be eligible for the credit. Almost 90% of all EI premium-paying businesses in Canada will receive the credit, reducing their EI payroll taxes by nearly 15%.

The Canada Revenue Agency will automatically calculate the credit on a business’ return, ensuring no new paper burden will be imposed on business owners.

In addition, all employers and employees will benefit from a substantial reduction in the EI premium rate in 2017 when the new seven-year break-even rate-setting mechanism takes effect. This will ensure that EI premiums are no higher than needed to pay for the EI program over time.

Quick Facts

  • Canada has created more than 1.1 million net new jobs since the height of the recession—one of the strongest job creation records in the Group of Seven (G-7).
  • In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business.
  • According to KPMG, total business tax costs in Canada are the lowest in the G-7 and 46% lower than those in the United States.
  • In September 2013, the Government announced a three-year freeze of the EI rate at its 2013 level of $1.88 to prevent it from rising to $1.93 in 2014, saving employers and employees an expected $660 million in 2014 alone.

Quotes

“Small businesses drive Canadian prosperity, representing about 50% of jobs in the private sector and a third of Canada’s gross domestic product. That is why we are taking action to make small businesses stronger. Our new Small Business Job Credit will lower taxes for business owners and make it easier for them to create jobs for Canadians. Canada has become an economic success story, but the global economy is fragile and there are geopolitical tensions. Therefore, we must continue taking action, as we have today, to create jobs, growth and long-term prosperity.”

- Joe Oliver, Minister of Finance

“This is a big one. This announcement will result in a 15% net reduction in Employment Insurance premiums paid by small businesses over the next two years. I couldn’t be more pleased to stand beside Finance Minister Oliver as he announces half a billion for small firms in payroll tax cuts—the most harmful form of taxation affecting job creation and employee wages. A 15% reduction in EI premiums will make it easier to hire new workers or invest in additional training to help entrepreneurs grow their business.”

- Dan Kelly, President of the Canadian Federation of Independent Business (CFIB)

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PM OF CANADA Statement on THE 75th ANNIVERSARY OF CANADA’S ENGAGEMENT IN THE SECOND WORLD WAR
Sep 10, 2014 at 09:38 AM

Prime Minister Stephen Harper today issued the following statement to mark the 75th anniversary of Canada’s engagement in the Second World War:

“On September 10th, 1939, nine days after Germany invaded Poland, Canada made its first declaration of war as a sovereign country.

“Though still recovering from the hardship and sacrifices wrought by the First World War and the Great Depression, Canada did not hesitate to stand up for what was right.

“The Canadian contribution to the war effort was remarkable. From a population of just 11 million, over one million Canadians and Newfoundlanders served in military uniform between 1939 and 1945. By war’s end, our country possessed the fourth-largest air force and the third-largest naval surface fleet in the world.

“In the air, on land and at sea, those young Canadians served with honour and integrity, both at home and abroad. Their resolve and clarity of purpose was evident in hostile skies, on the shores of Dieppe and Normandy, in the mountains of Italy, on the frigid North Atlantic waters, and in the searing Hong Kong sun. From Europe to the Far East, they stood strong, supported by the loved ones they left behind and millions of Canadians diligently working on the home front. Freedom was won, but at a tremendous cost, with more than 45,000 Canadians giving their lives and another 55,000 wounded. 

“Though decades have passed, the effects of the Second World War are still felt in Canada. The courage and sacrifice of those who served must be honoured through meaningful remembrance.

“Today, as we mark the 75th anniversary of Canada’s engagement in the Second World War, I ask all Canadians to take time to think about the enormous contributions our Veterans and Canadian Armed Forces members have made to the country we enjoy today.

“Lest we forget.”

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Last Updated ( Sep 10, 2014 at 09:40 AM )
Capital Markets Stability Act - Draft Available for Consultation
Sep 10, 2014 at 10:47 AM

British Columbia, Ontario, Saskatchewan, New Brunswick and Canada Strengthen Their Commitment to the Cooperative Capital Markets Regulatory System

September 8, 2014

The Honourable Michael de Jong, British Columbia’s Minister of Finance, the Honourable Charles Sousa, Ontario’s Minister of Finance, the Honourable Gordon Wyant, Saskatchewan’s Minister of Justice and Attorney General, the Honourable Troy Lifford, New Brunswick’s Minister of Justice, and the Honourable Joe Oliver, Canada’s Minister of Finance, have signed a Memorandum of Agreement formalizing the terms and conditions of the Cooperative Capital Markets Regulatory System.  Consultation drafts of uniform provincial capital markets legislation and complementary federal legislation are also being released for public comment.

On September 19, 2013, the Governments of British Columbia, Ontario and Canada announced their agreement in principle to jointly establish a Cooperative Capital Markets Regulatory System.  Subsequently, on July 9, 2014, Saskatchewan and New Brunswick agreed to join the Cooperative System with the signing of an Amended Agreement in Principle, which ensures a more balanced and inclusive governance structure for all participating jurisdictions.  Today’s announcement builds on those agreements and also renews the invitation to all provinces and territories to participate in the Cooperative System.

The release of the consultation drafts of the proposed provincial and federal legislation marks another important milestone in the transition towards the Cooperative System.  The completion of the consultation draft of the uniform provincial legislation represents a significant achievement in the harmonization of current provincial capital markets legislation.  The consultation draft of the complementary federal legislation, addressing systemic risk in national capital markets, national data collection, and criminal law matters, is responsive to and consistent with the direction provided by the Supreme Court of Canada.  Together, the Memorandum of Agreement and the consultation drafts of proposed provincial and federal legislation demonstrate the ongoing commitment of the parties to work together in a collaborative manner to strengthen and streamline the capital markets regulatory framework.

The implementation of the Cooperative System will continue through a number of phases.  The participating jurisdictions will work to complete draft initial regulations and the means of establishing the Capital Markets Regulatory Authority.  As work continues toward the operationalization of the Capital Markets Regulatory Authority targeted by fall 2015, the participating jurisdictions reiterate their invitation to the governments of other provinces and territories to participate in the Cooperative System, which will better protect investors, support and foster efficiency, and manage systemic risk in national capital markets.

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