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CTA looks for 21 per cent rate on corporate tax

OTTAWA, Ont. - The Canadian Trucking Alliance (CTA) called for a phased-in cut of the corporate income tax rate, to 21 from 28 per cent, in its pre-budget submission to the federal Finance Committee.T...


OTTAWA, Ont. – The Canadian Trucking Alliance (CTA) called for a phased-in cut of the corporate income tax rate, to 21 from 28 per cent, in its pre-budget submission to the federal Finance Committee.

The CTA said that while such a reduction was promised in last year’s budget, a mere one per cent cut has been confirmed to come into effect on Jan. 1.

“It is not reasonable to expect Canadian businesses to wait, possibly until 2004, for government to take action to level the playing field,” said David Bradley, chief executive officer of the Alliance.

So too has the CTA called on the government to return 50 per cent deductibility of drivers’ meal expenses to the 80 per cent that was in place prior to 1994. “The cost of meals for commercial truck drivers is a legitimate and necessary business expense,” Bradley said. n


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