Save Our Local Businesses from an Unfair BET
Toronto, ON (PRWEB) July 31, 2013 -- TABIA, the Toronto Association of Business Improvement Areas (BIAs) and OBIAA, the Ontario Business Improvement Areas Association, who represent over 80,000 local businesses across the province, are asking that the province re-instate its program to equalize the Business Education Tax (BET).
In a report commissioned by local BIAs and prepared by Adam Found and Peter Thomlinson of the Department of Economics at the University of Toronto, BET was identified as one of the most inequitable taxes in Canada and one that particularly hits local enterprises.
“Independent local businesses are the lifeblood of our economy,” states TABIA Executive Director John Kiru. “They define our neighbourhoods. But they are under attack. Fixing the BET tax rate would go a long way towards helping them thrive.”
“The financial impact can be as much as $3,200, per $1M of assessment a year for some businesses,” continues Kiru, “On the other hand, as the U of T report indicates, reinstating the program would only mean a five week extension of the deficit reduction program. We simply don't think it’s fair to make local businesses bear the cost of such a small gain. Especially when they are the sector of the economy that has proven to be best at creating local jobs. Enough is enough.”
Identified by the province some time ago as an unfair tax, steps were taken in the 2007 budget to resolve some of the inequities in the BET, a program that was to be completed by 2014. However in the 2012 budget the province removed the program in order to deal with their deficit. The inequities remained in the 2013 budget. TABIA/OBIAA, the thousands of businesses they serve and in turn the residents in their communities would like to see the program re-instated.
Voters are encouraged to read the U of T Report and sign the petition being sponsored by TABIA and OBIAA. The information is available on the TABIA website (toronto-bia.com).
ABOUT TABIA AND OBIAA
OBIAA and TABIA are non-profit umbrella organizations representing more than 80,000 businesses and property owners in Ontario’s 280 BIAs. The organizations engage in advocacy initiatives that create business environments where main street businesses can thrive.
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MEDIA CONTACT: For inquiries and further information, contact Lionel Miskin, Vice-President of TABIA, Chair of the TABIA Tax Committee at 416-222-4582 lionelmiskin(at)gmail(dot)com or John Kiru, Executive Director of TABIA and Past-President of OBIAA at 416-889-4111 JKiru(at)toronto-bia(dot)com.
John Kiru, TABIA, http://toronto-bia.com/, 416-889-4111, [email protected]
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