Reducing Red Tape
- There are 130,000 different regulations and paperwork requirements across the federal government.
- This regulatory burden destroys jobs and economic growth across this country and hurts Canada’s productivity.
- Our Government wants to ensure the regulatory burden is not increased.
- For every regulation that we create, we have legislated that the government must reduce another regulation. We are the only government in the world to do so.
- Our Government is committed to reducing red tape and regulatory irritants to businesses.
- That’s why Economic Action Plan 2015 takes action to do just that, with measures such as:
- Reducing the Frequency of Remittances for the Smallest New Employers, which will eliminate an estimated 640,000 required payments to the CRA annually.
- Expanding the Use of Business Numbers by undertaking the initial planning and preparation required for the federal adoption of the Business Number as common Business Identifier in order to cut red tape and expand electronic services available to businesses.
- Streamlining Withholding Requirements for Non-Resident Employers which will provide an exception to an income tax withholding requirement for qualifying non-resident employers in relation to non-resident employees working in Canada
- These measures build on our record since 2006, which includes:
- Introducing the Red Tape Reduction Action Plan to bring a new level of discipline to how the Government regulates and create a more predictable environment for business.
- Implementing and continuing to uphold the One-for-One Rule, whereby regulators must remove a regulation each time they introduce a new regulation that imposes administrative burden on business.
- Reducing the maximum number of required payments on account of source deductions for more than 50,000 employers.
- Allowing businesses to submit documents electronically for tax filing.
- Implementing electronic pre-authorized debit service for businesses through the My Business Account.
