PROPOSED FEDERAL TAX CHANGES, PETITION TO THE MINISTER OF FINANCE

PROPOSED FEDERAL TAX CHANGES, PETITION TO THE MINISTER OF FINANCE

Whereas:

 

The Minister of Finance has released a proposal entitled “Tax Planning Using Private Corporations” which proposes to limit sharing business income with family members and raise taxes on investments (passive income) held by businesses;

Small businesses are a significant source of economic diversification and economic growth in Canada;

Small business owners take major risk in starting and running their businesses, and in keeping people employed through periods of economic instability;

These proposed changes to the small business tax system will create instability and uncertainty for small business owners; and

Many small business owners in Canada and those employed by small business feel that these changes are unfair and will hurt the Canadian economy.

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