Remarks from Jean-Pierre Blackburn advise businesses of tax consequences and stimulus perks

Despite tough current economic conditions, keep all business dealings legitimate and report them by the books.

This was part of the message Revenue Minister Jean-Pierre Blackburn gave to local business in Edmonton, reports the Edmonton Sun newspaper.

He strongly advised business owners to avoid "deals made under the table" because the consequences inflicted by the Canada Revenue Agency are likely to be far worse than paying taxes upfront, says the Sun of Blackburn's remarks.

But it wasn't all harsh tax words from the government figure - he also discussed details of the stimulus plan that could bode well for small businesses, including the increase of the eligible income for the small business rate of 11 percent to $500,000.

The Edmonton newspaper reports Blackburn saying small businesses can look to benefit from new money in the Canada Small Business Financing Program as well.

Recent reports in the Financial Post echo Blackburn's tax sentiments. The newspaper says that solid financials can lead to business expansion - both in terms of securing funding and attracting new clients.

--------------------------

Copyright NEBS Canada Business Products.

Small business owners have trusted NEBS for all of their business needs for over 30 years, including products and services to help manage a small business more effectively.