Canada’s Certified General Accountants today urged the federal government to make the country’s tax structure more appealing to investors, reduce tax burdens for individuals and companies, and prepare for the impacts of an aging population.

Those recommendations were delivered to the House of Commons Standing Committee on Finance by representatives of the Certified General Accountants Association of Canada as part of the pre-budget consultation process.

The CGA-Canada submission focuses on personal and corporate taxation, and the fiscal effects of aging populations.

One of the association’s primary concerns going into the next federal budget is the current level of taxation in Canada.

“CGA-Canada believes it is essential for the federal government to redefine fair, competitive taxation to ensure that Canada remains an attractive location to invest for both individuals and businesses,” Everett Colby, chairman of CGA-Canada’s Tax and Fiscal Policy Committee, said in a release. “Creating a fair and competitive level of taxation is one of the most predictable tools available to government for enhancing productivity growth.”

CGA-Canada is calling on the government to introduce a multi-year tax plan aimed at lowering the burden on individuals and businesses in order to foster economic growth.

The aging population is also becoming an increasingly important issue in federal fiscal strategies, as people are living longer and enjoying longer retirements.

“The federal government must take progressive and proactive steps to counteract the looming prospect of labour and skill shortages as Canada’s demographic landscape ages,” said CGA-Canada president and CEO
Anthony Ariganello.

The association believes the federal government must eliminate mandatory retirement at age 65 and diminish public pension incentives for early retirement; promote greater flexibility in education systems; recognize the inherent value of immigrants’ training and qualifications; and demonstrate leadership in workplace innovation that promotes increased productivity.