KDCC Welcomes Small Business Tax Relief in 2026 Federal Budget
The Kenora and District Chamber of Commerce is welcoming new housing supports and a simplified tax system for small business owners, as we dive into the 2026 federal budget and how it will impact our communities.
Prime Minister Mark Carney introduced the budget on November 5, detailing over $150 billion in spending in the over 500-page document.
Highlights for KDCC leadership include the renewed Canada Housing Benefit – providing direct monthly rental assistance to low-income individuals and families, an up to $45,000 tax credit for creative artists, a $2 billion rebate program for heat pumps, and a top up of the Canada Grocreries and Essentials Benefit.
For small business owners, the federal budget zeroed in on increasing and supporting business growth with a range of tax incentives designed to encourage private-sector investment, as well as simplified tax instalments for self-employed small business owners with a single annual payment, instead of quarterly.
“There are some encouraging measures in this budget when it comes to supporting small businesses and making it easier for entrepreneurs to invest and grow,” says KDCC Treasurer, Shawn Roulette.
“At the same time, we know that affordability, the cost of doing business and economic uncertainty continue to be major concerns for our communities,” Roulette adds. “The real measure of this budget will be how effectively these commitments translate into meaningful support for businesses and residents here in the Kenora area.”
The Ontario Chamber of Commerce says they welcome measures that lower upfront business costs, create incentives to boost productivity, and encourage reinvestment in Canadian businesses, noting these measures respond directly to the OCC’s calls to reward investment, mobilize capital and fuel growth.
“Based on what we’ve seen, this Budget sets the stage for entrepreneurs and business owners to consider starting or growing their business here at home,” says Matthew Holmes, Executive Vice President, International and Chief of Public Policy with the Canadian Chamber of Commerce.
“We welcome the Productivity Mega Deduction, expanded SR&ED support, the Canada Growth Incentive, and commitments to simplifying the tax system for individuals and business owners,” Holmes adds.
Pierre Poilievre, meanwhile, says the Liberals should have named the budget ‘mastered by debt’, as the Leader of the Opposition points to a growing national debt and a continued increase of the price of essentials.
Conservative Shadow Critic for Innovation, Science and Industry, Adam Chambers, says the budget is heavily dependent on no major ‘shocks’ to the global economy.
“If the government is wrong, then the financial health of the country could deteriorate actually quite quickly,” said Chambers.
The 2026 federal budget can be found HERE.
