Businesses hoping for less complexity, more certainty on Budget Day



As Minister of Finance Bill Morneau prepares to table an Election Year Budget on March 19, RSM Canada, the leading global provider of audit, tax and consulting services focused on middle market businesses, has announced three areas Canadian middle market companies are hoping are addressed in the upcoming Federal Budget.

  1. Urgently address competitiveness with global markets: While the implications of tax reform in the United States were still relatively unknown leading up to last year’s Federal Budget, Canada’s middle market companies now have a clearer picture. External market pressures combined with economists predicting an economic downturn in the year ahead have middle market companies feeling squeezed.

  2. Reduced complexity to foster innovation: Canada – especially Ontario – is increasingly becoming a hub for digital and eCommerce companies, but Canada’s tax system maintains a heavier focus on traditional brick and mortar companies. Homegrown digital companies are hoping to see this year’s Budget reduce complexity in the Canadian tax legislation to help their businesses grow, while allowing for greater innovation and economic growth across the country.

  3. Fiscal responsibility: Canada’s middle market businesses would like to see fiscal responsibility and a proper mix of income tax and consumption taxes to prevent further burden on individuals and companies that are already paying higher taxes to cover deficits and spending. While a balanced Budget is not realistic in the near future, middle market companies are hoping for a more focused timeline from the government than the current one, which has the Budget balanced by roughly the year 2040.

“With rising interest rates and the overall slowing of the economy, Canada’s middle market businesses are concerned about growth prospects in 2019. More specifically, the impact of the U.S. tax reform is being felt by Canadian enterprises, while complex tax legislation is making it hard for innovators to thrive and grow here at home. On top of that, it now looks like Canada’s Budget won’t be balanced for at least a couple decades, so we’re really hoping the Finance Minister will address some of these issues in the Budget,” said Maria Severino, National Tax Leader, RSM Canada.

About RSM

RSM’s purpose is to deliver the power of being understood to our clients, colleagues and communities through world-class audit, tax and consulting services focused on middle market businesses. The clients we serve are the engine of global commerce and economic growth, and we are focused on developing leading professionals and services to meet their evolving needs in today’s ever-changing business environment.

RSM Canada LLP provides public accounting services and is the Canadian member firm of RSM International, a global network of independent audit, tax and consulting firms with more than 41,000 people in 116countries. RSM Alberta LLP is a limited liability partnership and independent legal entity that provides public accounting services. RSM Canada Consulting LP provides consulting services and is an affiliate of RSM US LLP, a member firm of RSM International.  For more information visit, like us on Facebook, follow us on Twitter and/or connect with us on LinkedIn.

Contact for Media Only:

Charles Muggeridge

Connect with RSM Canada




Latest News

RSM donates $3.8 million to charity through 2019 Birdies Fore Love program

  • November 20, 2019

RSM Canada sponsors Junior Achievement Central Ontario Governors' Dinner

  • November 01, 2019

RSM Canada strengthens tax leadership team with new partner

  • October 31, 2019

New report explores economic challenges facing next federal government

  • October 15, 2019

RSM Canada announces partner promotions

  • October 02, 2019

RSM Canada expands consulting practice in Alberta with new partner

  • October 01, 2019

RSM partner appointed to IFIC's Accounting Advisory working group

  • September 12, 2019

RSM Canada expands leadership in key Canadian industries

  • September 10, 2019

RSM welcomes Virtus Group LLP to RSM Canada Alliance

  • September 04, 2019

RSM Canada Kicks Off Birdies Fore Love Campaign During Volunteer Week

  • July 26, 2019

Second quarterly report on economic and industry developments launched

  • July 24, 2019

RSM Canada expands risk advisory practice with new key hire

  • July 22, 2019

RSM's Karen Brault wins Sage's Accountant Partner of the Year Award

  • July 09, 2019

Global growth leader appointed to support foreign direct investors

  • June 27, 2019

RSM expands security privacy and risk practice with two new partners

  • June 07, 2019

David Mamane joins RSM’s Industry Eminence Program as first Canadian member

  • May 22, 2019

RSM welcomes McGovern Hurley LLP to RSM Canada Alliance

  • May 01, 2019

New publication helps middle market anticipate economic trends

  • April 15, 2019

RSM announces two key hires and launches Canada National Tax Office

  • April 04, 2019

RSM provides tax and middle market insight on 2019 Federal Budget

  • March 19, 2019

Businesses hoping for less complexity, more certainty on Budget Day

  • March 06, 2019

RSM Canada joins Shopify Plus to create unique multi-service platform

  • February 28, 2019

RSM Canada strengthens its partner group with key hire

  • February 27, 2019

RSM's Calgary office recognized as one of Alberta's Top Employers

  • February 20, 2019

CPA Canada's NPO Forum appoints RSM's Stephen McCourt as committee chair

  • January 28, 2019

RSM Canada donates $84,000 through Birdies Fore Love

  • January 25, 2019

RSM Canada begins 2019 with strategic partner updates in audit & tax

  • January 21, 2019