May 16, 2018
By Michael Kramer
A cross-border council on women in business recommends that companies controlled by women – should get lower tax rates.
The Canada-United States Council for Advancement of Women Entrepreneurs and Business Leaders made the suggestion in a report released Wednesday – offering recommendations for how companies can better support women in business.
The group interviewed investors, institutions, asset managers, pension funds and venture capital firms – and found that women are not being financially backed at the same level as men – and are less likely to have leadership roles within corporations.
That’s why it called for a lower tax rate for women-owned businesses, similar to the lower rates already offered to private corporations that are Canadian-controlled.
The council was created by Prime Minister Justin Trudeau and U.S. President Donald Trump last year – and aims to help women-owned businesses contribute to economic growth, competitiveness and the integration of the two economies.
The commission is made up of female executives – half from Canadian companies and the other half from American companies.