Policy Library

2023-2024 Provincial Pre-Budget Submission
Feb 3rd, 2023 | Topics: Budget Issues

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2023-24 Municipal Pre-Budget Submission
Apr 5th, 2023 | Topics: Budget Issues

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2024 Federal Budget Response
Apr 17th, 2024 | Topics: Budget Issues

The federal government announced their budget 2024 yesterday in Ottawa and The Halifax Chamber wanted to provide for you an update on some of the key changes for you and your business. This is a big budget, with spending increasing significantly and a large budget deficit of approximately $40B and we won’t try to address all of the items in the budget and have focused on the items with the greatest impact on a small business or not for profit. The Halifax Chamber continues to be concerned about Canada’s productivity gap and as Carolyn Rogers, from the Bank of Canada stated in Halifax a few weeks ago, “ we are at a break the Glass moment” with Canada’s productivity down six straight quarters to the end of 2023, with a very small increase at that time. We didn’t see items in the budget that will help Canada improve those productivity levels.

From the budget, below are the items that we see having the most impact for you:

• Canada Carbon Rebate for Small Businesses

The Canada carbon rebate for small business addresses the Chambers continuing concern that with the carbon tax implemented in Nova Scotia and steadily increasing for all businesses are being left out of the rebates provided to consumers. This rebate will address this for over 600,000 canadian businesses of under 499 employees. The details have yet to be revealed and with $2.4B in spending allocated for this rebate, it will not provide complete cost recovery for canadian small businesses and to a large extent they will continue to pass on the carbon tax to consumers or absorb those costs themselves. We will be following up with government to address what seems to be missing which is the proposed rules do not contemplate alternate small business structures with employees, such as sole proprietorships and partnerships.

• Lifetime Capital Gains Exemption

The lifetime capital gains will increase for small business owners who sell or dispose of their business. This will increase from just over $1M to $1.25M on or after June 25th, 2024 and resume indexing in 2026.

• Canadian Entrepreneurs' Incentive

There are details in the link above but this will be phased in to reach $2M in 2034. This does provide an incentive for owners who sell or dispose of a business or shares.

• Capital Gains Inclusion Rate

This is a tax increase with the capital gains inclusion rate increasing from one half to two thirds of income above $250,000. Individuals have until June 25th at the previous rate and after that the new rate will apply.

• Accelerated Capital Cost Allowance

The accelerated capital cost allowance will allow purpose built rental housing to increase their Capital Cost Allowance from 4% to 10%. This should encourage more purpose-built rental housing.

• Alternative Minimum Tax

The Alternative Minimum Tax is a parallel tax calculation that allows fewer tax credits, deductions, and exemptions than under the ordinary personal income tax rules. Taxpayers pay the higher of the ordinary tax or the AMT.

Budget 2024 proposes to revise the tax treatment of charitable donations to allow individuals to claim 80 percent (instead of the previously proposed 50 percent) of the Charitable Donation Tax Credit.

2024-2025 Municipal Pre-Budget Submission
Mar 7th, 2024 | Topics: Budget Issues

This pre-budget submission underscores the importance of mitigating impact successive property tax increases on our residents and businesses. We acknowledge burden that HRM is facing to accommodate record growth in population, however municipality must also recognize strain it placing homeowners businesses deal with growing pains. Addressing this issue essential ensure affordability prevent financial hardship among community.

Therefore, alongside efforts to advocate for reduced spending and lower taxes, this submission also attempts break down educate our members on trends concerns we see within the Municipality’s budget. By carefully considering impacts of successive tax increases, other programs, aim create a more sustainable equitable financial environment all stakeholders municipality.

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2024-2025 Provincial Budget Response
Mar 7th, 2024 | Topics: Budget Issues

In February the Nova Scotia provincial government released their budget for 2024/25. Prior to the annual budget release, the Halifax Chamber’s Policy Team submits a Pre-Budget Submission which includes several key recommendations to the Provincial Government that we believe will enhance the economic prosperity of our members and region. The recommendations are derived from hours of detailed analysis and stakeholder consultations which are then reviewed and approved by the Chamber’s Task Force members and volunteer Board of Directors. This document will focus on some of the key areas in our recommendation and the results of those recommendations.

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2024-2025 Provincial Pre-Budget Submission
Jan 3rd, 2024 | Topics: Budget Issues

The following submission is a significant departure for the Halifax Chamber in form and content. The overall goal remains to make informed recommendations to the provincial government of key priorities that should be incorporated in to the upcoming 2024-25 Nova Scotia Provincial Budget. The recommendations are targeted to not only support the business community but all residents throughout the province. However, this pre-budget submission takes a much more focused look at a smaller list of critical areas of concern that will have maximum impact across the province, and not only provides in-depth rationale for the recommendations but costs them as well. The three key pillars of this submission are areas we feel are vital for the well being and economic stability of our province.

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A Call for a National Urban Strategy Targeted Toward Canada’s Largest Urban Centres
Nov 2nd, 2010 | Topics: Multi-Topic Publications

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A Pioneering Spirit is a Requirement on the Road to Hopenhagen
Oct 1st, 2009 | Topics: Energy and the Environment

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A Question and Answer session with Nova Scotia Finance Minister Neil LeBlanc
Jan 1st, 2003 | Topics: Budget Issues

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A Study in Carbon Pricing - Halifax Chamber of Commerce
Feb 11th, 2009 | Topics: Energy and the Environment

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A Survey of the Indexes - How Does Halifax Measure Up
Jan 20th, 2010 | Topics: Multi-Topic Publications

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Affordable Housing: A Chamber's Perspective
Feb 22nd, 2021 | Topics: Affordable Housing

Over the past eleven months, the Halifax Chamber has been working diligently to ensure our members are up-to-date and aware of the programs, services, and announcements that could impact their business. We have also spent countless hours chatting with members, producing relevant webinar material, and advocating the government for increased supports and common-sense policies. While there is still much work to be done as we begin recovery, we thought this might be a great time to introduce a new series: Thoughtful Thursdays.

Our advocacy work is often quite specific, focusing on issues like taxes, transit, and red tape. But now we are providing another platform for more open discussions on trending issues, current events, and business ideas. Check back on Thursdays for a new piece once a month and leave us a comment or send us a message. We would love to get a conversation going in hopes of inspiring a more thoughtful Thursday.

Today's piece is on Affordable Housing. Want to chime in on the conversation. Head over to LinkedIn

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Air Access to Halifax Summer Update 2008
Aug 4th, 1998 | Topics: Transportation and Trade

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Annual Update to the HRM
Aug 1st, 2008 | Topics: Multi-Topic Publications

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At Issue - Report on Population Crisis
Sep 22nd, 2009 | Topics: Multi-Topic Publications

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Better Burnside Bus Service
Jun 3rd, 2008 | Topics: Transportation and Trade

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Briefing Note - Corpus Sanchez Report
Jul 17th, 2008 | Topics: Health and Education

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Briefing Note- Corpus Sanchez Report
Jul 17th, 2008 | Topics: Health and Education

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Building Our Future - Economic Forecast
Oct 31st, 2002 | Topics: Multi-Topic Publications

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Burnside Clean Up a Big Success
Oct 24th, 2008 | Topics: Energy and the Environment

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