700,000 Businesses and Professionals Call on Ottawa for Comprehensive Tax Reform, including Commitment to a Focused Tax Review in Budget 2026

• CPA Ontario leads national coalition in calling for comprehensive tax reform that will help Canada attract the investment, entrepreneurship and talent that will grow our economy, create jobs and raise the standard of living for all Canadians.

EmitenTrust.com - TORONTO, Oct. 23, 2026 /CNW/ -- At a pivotal economic moment, leading Canadian business and professional organizations have established a national coalition to urgently call for the tax reform needed to support a stronger, more sovereign and more prosperous Canada. This includes a commitment, in Budget 2026, to a comprehensive review of Canada's tax system.

Assembled by CPA Ontario, the coalition includes the Canadian Chamber of Commerce, Ontario Chamber of Commerce, Canadian Federation of Independent Business, Canadian Federation of Agriculture and Ontario Federation of Agriculture.

"Canada must act now to reset its economic trajectory with a redesigned tax system focused on growth, competitiveness and innovation," said Carol Wilding, FCPA, FCA, ICD.D., President and CEO, CPA Ontario. "While targeted tax reforms are needed, Canada also urgently needs a generational review to ensure our tax system positions Canada for the economy of the 21

The coalition welcomes the federal government's introduction of the Productivity Mega-Deduction as an important step toward improving Canada's investment climate. Further action is still needed to support entrepreneurship, business expansion and Canada's future economic prosperity.

In Tax Reform for Growth in Canada, CPA Ontario lays out the case that the complexity of Canada's current tax system is diverting resources from productive activities and discouraging investment and entrepreneurship.

The coalition is urging the federal government to adopt tax reform that:

• Incentivizes entrepreneurship and growth in Canada.
• Improves Canada's global competitiveness.
• Removes complexity by simplifying today's tax system.
• Supports the growth of small businesses given their importance to Canada's economy.
• Builds a tax system fit for today's modern, AI-driven economy.

"Business success matters for all of our success. When the federal government introduced the Productivity Mega Deduction this fall, it was a clear signal that Canada was reopening for business. In one fell swoop, it put Canada back on the map as an investment destination," said Candace Laing, President and CEO, Canadian Chamber of Commerce. "However, there are still many tax irritants and compliance challenges that serve to slow business investment and growth, holding back the full promise of a supercycle. Business needs a modern tax code to attract investment, and so our businesses can get back to competing in the new global economy."

The coalition is committed to working constructively with federal policymakers to advance tax reforms that help create the conditions for stronger economic growth, business competitiveness and long-term prosperity.

Quotes

"Canada needs a tax system that rewards investment, entrepreneurship, and growth. A comprehensive, expert-led, and time-bound review is a chance to ensure our tax system is simpler, more competitive, and better positioned to attract the investment Canada needs to succeed."

Daniel Tisch, President and CEO, Ontario Chamber of Commerce

"Small businesses need a tax system that helps them grow, reinvest and compete. Canada is facing an entrepreneurial drought, and a heavy tax burden is part of the problem. The federal government must be bold and make Canada a place where entrepreneurs can thrive."

Corinne Pohlmann, Executive Vice-President, Advocacy,
Canadian Federation of Independent Business

"Farm businesses are capital-intensive, multigenerational enterprises that require long-term investment and planning. Modernizing Canada's tax system can help ensure farm families have the confidence to invest, innovate, and pass productive operations on to the next generation of Canadian farmers."

Keith Currie, President, Canadian Federation of Agriculture

"Reducing farm taxes is consistently selected as the number one policy priority when we survey Ontario farmers, which is why we urge the federal government to modernize Canada's tax system to support farm succession, reinvestment, and long-term competitiveness of Canada's agricultural sector."  

Drew Spoelstra, President, Ontario Federation of Agriculture

About the Coalition

The coalition brings together leading business, professional and sector organizations representing over 700,000 businesses and professionals across Canada. Members share a commitment to building a stronger, more prosperous Canada by improving our competitiveness, encouraging investment and entrepreneurship and supporting policies that promote long-term economic growth.

The coalition's call to action can be found on the CPA Ontario website. 

SOURCE Chartered Professional Accountants of Ontario