Message From Tony
There is much to love and appreciate about living in the communities of Newmarket and Aurora. One of the things I absolutely appreciate is the strength and variety of our small business community. October is Small Business Month in Canada, an opportunity to proudly support and say thank you. Small businesses are the backbones of our economy and the heart of our communities.
We are proud to kick off Small Business Month by announcing new ways that our Liberal government will continue to support small businesses as they grow, innovate, and adapt to the economy of the future.
On October 1st, we announced a comprehensive suite of measures to help small- and medium-sized businesses start up, grow, and thrive.
First, the federal government announced the payment amounts for the new Canada Carbon Rebate for Small Businesses, which will deliver over $2.5 billion to about 600,000 Canadian businesses before the end of this year. This refundable tax credit will return a portion of the fuel charge proceeds from 2019-20 through 2023-24 to small businesses, in jurisdictions where the federal fuel charge applies. Eligible businesses that filed their 2023 tax return by July 15, 2024, will receive their payment by:
- December 16, 2024, if registered for direct deposit from the Canada Revenue Agency; or,
- December 31, 2024, if receiving payment by cheque.
To ensure all eligible businesses can receive their payments, the government is proposing to extend the deadline for businesses that file their tax return from July 15, 2024, to December 31, 2024. Late filers would receive their payment at a later date, subject to Royal Assent of the required legislation.
The Canada Carbon Rebate for Small Businesses will deliver up to $4,010 to a business with 10 employees in Ontario, $29,550 to a business with 50 employees in Alberta, and $576,844 to a business with 499 employees in Saskatchewan. Small businesses in Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador will also receive payments.
Second, the federal government announced a revised Code of Conduct for the Payment Card Industry in Canada to protect over 1 million businesses that accept credit card and debit card payments from customers. Starting on October 30, 2024, the revised Code will help businesses compare prices and offers from different payment processors and shorten the complaint handling response time by nearly 80 per cent to just 20 business days. All major payment card network operators in Canada have agreed to the terms of the revised Code. Certain obligations requiring complex or technical system changes will come into effect by April 30, 2025.
Third, the federal government announced that new, reduced credit card transaction fees for small businesses will take effect on October 19, 2024. More than 90 per cent of small- and medium-sized businesses that accept credit cards will receive lower rates and see interchange fees reduced by up to 27 per cent. These fee reductions are expected to save eligible small businesses about $1 billion over five years. The federal government expects all members of the credit card industry, including payment processors, to pass these savings on directly to small businesses. The federal government negotiated and finalized new agreements with Visa and Mastercard, which also protect reward points offered to Canadian consumers.
Reduced credit card transaction fees will save small businesses thousands of dollars every year. For example, if a store processes $300,000 in credit card payments, they currently pay nearly $4,000 in annual fees. With these new agreements, the store could save $1,080 in fees every year.
The government is taking action to help businesses start-up, grow, and thrive by reducing the costs of running a business. Today’s new supports for business owners build on the tax cut for small businesses announced in Budget 2022, which is saving businesses $660 million in taxes over 2022-23 to 2026-27, by making the 9 per cent federal small business tax rate available to more businesses as they grow.
2024 Run for Newmarket
This Sunday, October 13th, I’m proud to be joining the 2024 Run for Newmarket. The Run is hosted by the Mercy4Mankind Ahmadiyya Muslim Youth Association (AMYA) and will be raising funds in support of the Southlake Regional Health Centre. Individuals and groups can come to Fairy Lake Park at 9 AM to participate in the 1K Fun Walk, 3K Run, or 5K Run.
Last year, the Run successfully raised over $10,000 and had more than 100 participants. The Run was able to give $5,500 each to CHATS (Community and Home Assistance to Seniors) and the York Region Food Network.
This year, Run for Newmarket’s goal in support of Southlake is $25,000. I encourage everyone to learn more about AMYA’s work in the community, join the Run, volunteer, or donate in support of this year’s cause. Sign up here.
Call for proposals under the Black-led Philanthropic Endowment Fund
Our government is committed to supporting Black Canadians to reach their full potential by building a better, fairer and more inclusive country for everyone. Six years ago, Canada officially recognized the United Nations International Decade for People of African Descent. By doing so, we committed to making transformative investments to empower Black communities.
Last week, the second call for proposals under the Black-led Philanthropic Endowment Fund was launched. This fund provides a source of funding for Black-led, Black-focused, and Black-serving non-profit organizations and registered charities in Canada. Building on the success of their first call for proposals, FFBC has launched the Black Ideas Grant, allocating a total of $9.5 million in funding, which includes $5.23 million in federal funding. Within this grant, organizations can apply for the Community Spaces Stream, the Core Stream, or the Catapult Stream.
This round is expected to fund an estimated 130 projects that support the fight against anti-Black racism or that work toward improving social and economic outcomes for Black communities in Canada. The deadline to apply is November 8th, 2024.
World Mental Health
Mental health is a universal human right.
This Thursday, October 10th, we observe World Mental Health Day to raise awareness of the importance of having access to mental health supports. The pandemic, and its unprecedented levels of stress, highlighted the need to provide support for increasing mental health needs. As a result, communities and workplaces have made progress in how mental health is approached. While this is good news, there is still more work to be done.
We also take this opportunity to recognize the stigma surrounding mental health, which can cause stereotypes, prejudice, and discrimination toward an individual or group of people. We can all take action to reduce this stigma by listening to those with lived experiences, learning more about how mental can affect individuals and their loved ones, and using person first language.
Last year, our government officially launched the 9-8-8 Suicide Crisis Helpline, which provides 24/7, bilingual, trauma-informed support for Canadians from coast to coast to coast. And in Budget 2024, we proposed the new $500 million Youth Mental Health Fund, which will help younger Canadians access the mental health care they need.
Our government will continue working to get all Canadians the safe, timely, and quality mental health care they deserve. I encourage everyone to learn more about World Mental Health Day and more about the challenges affecting people with mental health issues.
Apply for the Newmarket-Aurora Youth Council!
Are you:
- a resident of Newmarket-Aurora?
- aged 15-25?
- interested in politics?
If you said yes to all three, then I encourage you to apply for the 2024-25 Newmarket-Aurora Youth Council (NAYC). The Council meets monthly to provide insight on issues important to them. They also learn more about Parliament and what an MP does, while meeting other young leaders from across the community, as well as occasionally sitting down with a government official.
Over the past year, I’ve been pleased to meet with my Youth Council to visit long-term care facilities, write Valentine’s cards for Veterans in our community, create a 2024 Pre-Budget submission, and advocate for a National School Food Program.
The NAYC is non-partisan and all youth from Newmarket-Aurora are welcome. If you are unsure whether you reside in the riding, you can enter your postal code on this website. Applications are due on October 9th, 2024, at 11:59 EST.
