St. Albert and District Chamber of Commerce members attended the national chamber annual meeting and saw their policy motion pass in what the current chair called an enlightening experience.
St. Albert and District Chamber of Commerce executive director Shelly Nichol and current chair Rosanna Fischer attended the conference, which took place in Halifax from Oct. 17 to Oct. 19. Fischer said the weekend event had an “energizing atmosphere.”
The policy Fischer and the local chamber put forward was number six on the floor: a motion to recommend the federal government discard the capital gains tax increase.
As of June 25, 2024, the federal government increased the capital gains inclusion rate from one-half to two-thirds for corporations and trusts, and on the portion of capital gains realized in the year that exceed $250,000 for individuals.
The policy passed with a 98.6 per cent majority, and Fischer was not surprised with the high level of support they received.
“[I’m] very happy with the outcome and the support we received from the other delegates on the floor. I actually was more surprised it wasn’t 100 per cent,” Fischer said. “I don’t know if there was a bit that maybe felt that it was a little bit too partisan.
“One of the suggestions that we had was to change the word from 'scrap' the tax to something a little different so that it didn’t sound as partisan. And so we went with ‘discard.’”
Fischer believes passing the policy at the AGM is an important step and that ultimately eliminating the tax increase would have a positive effect for the Canadian economy and the residents and businesses of St. Albert.
“It would eliminate a barrier that often prevents small business owners, investors, and entrepreneurs from reinvesting in their businesses and creating jobs, ultimately supporting economic growth across Canada,” she said.
Overall, Fischer felt the event was invaluable for residents, businesses, and the chamber’s work in St. Albert.
“The event provided a unique opportunity to connect with chamber representatives from across the country, allowing us to share insights and discuss challenges that matter to our community,” she said.
According to Fischer, common topics at the event included fiscal responsibility, tax reform, and strategies for economic growth, with a strong focus on supporting small businesses, fostering innovation, and addressing labour shortages.
Fischer has attended the Alberta Chamber of Commerce AGM before, but this was her first time at the Canadian Chamber level. She found the experience rewarding and exciting.
“I gained a lot of valuable insight into policy, and basically trends and challenges faced across Canada,” she said.
“This success amplifies our ability to advocate for policies that support local businesses,” she said. “For me, it was a powerful reminder of the impact members and people have when they come together and they unite for shared goals, shared visions.”
“I think this type of event is great for Canadian businesses and for communities and residents. So, all around it was a great session.”
