Canada-United States Council for Advancement of Women Entrepreneurs and Business Leaders recommends that companies controlled by women should get lower tax rates. (Photo by THE CANADIAN PRESS)

Business group calls for lower tax rate for women-controlled companies

OTTAWA — A cross-border council on women in business recommends that companies controlled by women should get lower tax rates.

The Canada-United States Council for Advancement of Women Entrepreneurs and Business Leaders made the suggestion in a report released Wednesday that offered recommendations for how companies can better support women in business.

The group interviewed investors, institutions, asset managers, pension funds and venture capital firms and found that women are not being financially backed at the same level as men and are less likely to have leadership roles within corporations.

That’s why it called for a lower tax rate for women-owned businesses, similar to the lower rates already offered to private corporations that are Canadian-controlled.

It says a lower tax rate could encourage more women to create and lead companies and incentivize businesses to include women in their succession planning and ownership roles.

It called on capital providers to make markets more hospitable for women by expanding or modifying their offerings to target female entrepreneurs.

The council was created by Prime Minister Justin Trudeau and U.S. President Donald Trump last year and aims to help women-owned businesses contribute to economic growth, competitiveness and the integration of the two economies.

The group also encouraged the Canadian and U.S. governments to continue to pursue programs that ensure women-owned businesses are included in government tender processes on a preferred basis, that push companies to adopt clear and strong diversity policies and that increase the number of women in key roles that influence investment decisions.

The council is made up of 10 female executives — half from Canadian companies and the other half from American companies.

The Canadian members include CEOs Annette Verschuren, of NRStor Inc., Dawn Farrell of TransAlta Corp., Linda Hasenfratz of Linamar Corp. and Tina Lee of T&T Supermarket Inc., as well as Monique Leroux, chair of the board of directors from Investissement Quebec.

Just Posted

Councillors want to represent Red Deer at AUMA

City council approves endorsement

Cannabis smoke raises health concerns

Smoke Free Bylaw returns to Red Deer city council Sept. 4

Avid Penhold climber Catlin Hannah’s death a reminder of the dangers of scrambling

Hannah never returned from his Mount Smuts attempt on Aug. 12.

Children, elderly at risk as smoke from distant fires hangs over parts of B.C.

VANCOUVER — Thick smoke blanketing British Columbia communities far from any flames… Continue reading

WATCH: Medicine River Wildlife Centre opens new playground

The grand opening of the playground was Saturday morning

Police chiefs want new data-sharing treaty with U.S. as privacy questions linger

OTTAWA — Canada’s police chiefs are pressing the Trudeau government to sign… Continue reading

Pope on sex abuse: “We showed no care for the little ones”

VATICAN CITY — Pope Francis issued a letter to Catholics around the… Continue reading

Ottawa announces $189M to extend employment insurance for seasonal workers

ESCUMINAC, N.B. — Ottawa has announced $189 million for an employment insurance… Continue reading

Trudeau formally announces he’ll run again in next year’s election

MONTREAL — Justin Trudeau will run again in the 2019 federal election.… Continue reading

Smoke from B.C. wildfires prompts air quality advisories across Western Canada

VANCOUVER — More smoky, hazy air is expected to blanket much of… Continue reading

Anti-pipeline protesters released days before weeklong jail sentences end

MAPLE RIDGE, B.C. — Several pipeline protesters were released from a British… Continue reading

All eyes on Andrew Scheer as Conservative convention set for Halifax

OTTAWA — After a week of internal caucus squabbles, Conservative Leader Andrew… Continue reading

Trump says his White House counsel not a ‘RAT’ like Nixon’s

BRIDGEWATER, N.J. — President Donald Trump insisted Sunday that his White House… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month