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The Canadian Federation of Independent Business says Manitoba small businesses will benefit from the corporate tax cuts announced in yesterday's budget by the federal government.
According to director of provincial affairs Elliot Sims, small businesses will save lot of money in the long run from these cuts.
"For a small business with a taxable income of about $100,000 per year, by 2019 when that tax cut is fully implemented, they'll be saving over $2000 per year on corporate taxes. When CFIB members get that money back from the government, they tend to invest it back in their businesses, either through purchasing new equipment, new buildings, or into employee training and increased compensation packages."
Sims says it's a win-win for people in communities when small businesses can invest that money locally instead of sending it to the federal government.