Discussion · Government Orders
Ryan Turnbull Liberal
“The member said this bill has nothing for small and medium businesses. That is not true. The bill gives tax breaks to businesses that buy buildings for manufacturing and processing, so they can use that money to grow. This will help businesses in Quebec and in her riding. Does she support this?”
“Madam Speaker, I have a great deal of respect for the member from serving on committee with her, but she said something in her speech that struck me as incorrect, which was that there is nothing in Bill C-31 for small to medium-sized businesses. That was the claim she made in the House here. I know for a fact that this is not true because, obviously, I am the parliamentary secretary, and I helped get the bill through committee. The bill would extend the productivity superdeduction, which is a tax measure that offers business owners and shareholders the opportunity to receive immediate expensing, which is basically being able to deduct real estate assets that are purchased for the purposes of processing and manufacturing. That would allow new businesses that are in operations today to take some of the money they are putting away for taxes at the end of the year to buy a new piece of real estate for the purposes of processing and manufacturing. Obviously, there would be significant impacts to manufacturing and processing in Quebec, in the member’s province and riding. I think she would be supportive of that measure. Is she supportive of that measure?”
Madam Speaker, I have a great deal of respect for the member from serving on committee with her, but she said something in her speech that struck me as incorrect, which was that there is nothing in Bill C-31 for small to medium-sized businesses. That was the claim she made in the House here. I know for a fact that this is not true because, obviously, I am the parliamentary secretary, and I helped get the bill through committee. The bill would extend the productivity superdeduction, which is a tax measure that offers business owners and shareholders the opportunity to receive immediate expensing, which is basically being able to deduct real estate assets that are purchased for the purposes of processing and manufacturing. That would allow new businesses that are in operations today to take some of the money they are putting away for taxes at the end of the year to buy a new piece of real estate for the purposes of processing and manufacturing. Obviously, there would be significant impacts to manufacturing and processing in Quebec, in the member’s province and riding. I think she would be supportive of that measure. Is she supportive of that measure?