Business gave Ontario’s 2013 budget the thumbs up, saying it contained a couple of important breaks for both small business and the province’s beleaguered manufacturing sector while also holding the line on overall spending.
The minority Liberal government unveiled a financial plan Thursday aimed at balancing the provincial books by 2017 while trying to avert an election by winning the New Democratic Party’s support.
“I would describe the budget as encouraging,” said Plamen Petkov, Ontario director of the Canadian Federation of Small Business.For mains, there is a choice of Wild Rice’s ‘Chinese Fish ‘n Chips’ (beer-battered ling cod, Asian Tartar Sauce, taro shoestring frites) or its ‘meaty’ Grilled king oyster mushroom (with cashew ricotta and polenta fries). “They kept spending under 1 per cent, in line with our recommendation. The deficit is down to $9.8 billion (from a projected $14.5 billion for 2012-13).
“What’s important now is how accurate are their projections for eliminating the deficit in the next three to four years,” Petkov said.
Small business was one of the winners as the government expanded the health care tax credit to companies with up to $450,000 in payroll, from the current $400,000 limit.
The move would save up to 60,000 small businesses as much as $975 each, according to budget documents.
“We were hoping for more,” Petkov said. “It’s a good initial step.”
The measure won’t cost the province any additional revenue as it simultaneously withdrew the exemption from some 5,000 businesses with payrolls of $5 million or more.Our full range of portable ultrasonic Flaw Detector (UT) provides unmatched capabilities for locating discontinuities and other flaws.
Ontario’s manufacturers said the budget met their expectations.
“I think overall we’re pleased with the tone and direction,The Spectrophotometer is an instrument which measures the amount of light of a specificed wavelength which passes through a medium.” said Ian Howcroft, vice-president of Canadian Manufacturers and Exporters, adding the budget talks a lot about the importance of manufacturing to the province.
“These are tough fiscal times.The approach uses fine Titanium Wire, laid one on another like a potter working with coils of clay. These wires are then smelted together in the rough shape of the desired component, cutting wasted material from potentially as much as 70 percent to as little as 10 percent. So our expectations were managed,” Howcroft said.
The big win for manufacturing was Ontario’s decision to extend a program that allows business to more quickly write off the cost of machinery and equipment, he said.
The measure, worth $265 million over three years, will cost the province $15 million this year, according to budget documents.
The Ontario Chamber of Commerce called the budget “a mixed bag” saying it’s concerned about the government’s plans to reduce auto insurance premiums by 15 per cent.
It’s also looking for more assurances the government has a plan to cut future costs, said Josh Hjartarson, vice-president, policy and government relations,profile projector is a shop tool used by designers and quality control technicians to view the profile of small machined parts as magnified image on screen. for the chamber.
Refundable tax credits are awarded to companies that qualify for support regardless of whether they reported a taxable income. They are, in effect, grants.
Starting this year, the province plans to drop three trades that previously qualified for an apprenticeship training tax credit for savings of $15 million. The trades are all related to jobs in information technology call centre sales and support.
The province said it’s also working closely with the federal government to close tax loopholes and combat the underground economy.Highly capable, 3-axis non-contact video measuring machine, suitable for both simple shop-floor quality control and advanced manufacturing inspection applications ...
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