The Ontario budget was well received yesterday and very well presented by the Hon. Vic Fideli, Minister of Finance. Some highlights for the convenience store sector are as follows:
A firm announcement and commitment to roll beer and wine into corner stores was the highlight for the OCSA.
In addition, the government announced:
– Reaffirming its commitment to cutting the small business tax rate.
– Reduction in WSIB premiums;
– Accelerating the 25% red tape reduction to 2020;
– Holding the minimum wage to $14/hour and tying future increases to inflation
The tobacco taxes did not increase in this budget and there were no new taxes at all in this budget.