Ministers of Revenue to announce corporate tax changes
Move will save Ontario businesses up to $190 million a year
Thu May 01, 2008
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OSHAWA -- A who's who of Ontario's business world, including Ontario Premier Dalton McGuinty and Federal Finance Minister Jim Flaherty, will be converging on Oshawa over the next few days as part of the Ontario Chamber of Commerce Annual General Meeting. Mr. Flaherty, also Conservative MP for Whitby-Oshawa and Mr. McGuinty, head of the Liberal government, were scheduled to address the gathering today (Friday). The two have made headlines in recent weeks for finger-pointing in light of a struggling manufacturing sector that some argue needs more government support and policies. Minister of National Revenue Gordon O'Connor and Ontario's Minister of Revenue Monique Smith will address the gathering of representatives from 160 local chambers of commerce and boards of trade. At Friday's meeting at the Holiday Inn in Oshawa they are expected to announce changes to Ontario's corporate tax system aimed at assisting the province's struggling business community, according to a news release from the Ontario Chamber of Commerce. The ministers will highlight the progress made in moving to a harmonized corporate tax system for Ontario businesses. They will underscore the benefits to the Ontario business community of the integrated federal and provincial audits, rulings, objections and appeals that began on April 3, 2008. Representatives from local chambers of commerce and boards of trade are converging on Oshawa for the 96th annual general meeting and convention May 2 to 4. They will determine the advocacy priorities for the business network for the next year. The convention provides a forum for discussion and debate about the priorities of business throughout the province. It's also an opportunity for delegates to hear from government leaders and experts in areas of interest to the business community.