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Aug 30

New Tax for Small Businesses?

PROPOSED FEDERAL TAX CHANGES

Quietly this summer, Finance Minister Bill Morneau announced proposed changes to the corporate tax structure in Canada. The changes, according to the federal government, is meant to address fairness and make the 1% pay their fair share of taxes. Upon further review, economists, business, and tax experts share a different view. One Liberal strategist labeled the proposed changes as grossly unfair and a danger to the entrepreneurial spirit which creates jobs, and the Canadian Chamber of Commerce refers to them as the most radical tax overhaul in 50 years. More info here http://www.mbchamber.mb.ca/2017/08/proposed-federal-tax-changes-brings-chamber-network-together/

 

This is an issue where the power of the network can affect change if we all work together and use our voice of business.

The window of opportunity is closing.  The Liberal and Conservative caucuses meet immediately after Labour Day and the Chamber network is aiming to have MPs go to the meetings with businesses’ comments in hand.

 

A template letter is provided here, into which we hope you will supply your own stories and then send them to our Member of Parliament.

One of the critical areas to emphasize is the importance of the direct impact these changes would have on small and family run businesses.

Please email your letter to info@candicebergen.ca and cc the Portage Chamber. We will pass the letters on to the Canadian Chamber and Manitoba Chambers.

 

Without question, the federal government must hear from the business community. Chambers across the Country are taking the first in a series of steps towards getting the message to Minister Morneau, and our MP’s.

Last week, Manitoba Chambers spoke with some tax experts who have been working to comprehend what the changes mean and just how damaging they could be to small business. Experts from BDO have shared a document that reviews the changes and explains them in detail.

https://www.bdo.ca/en-ca/insights/tax/tax-alerts/a-detailed-review-the-government-private-company-consultation-paper/?utm_source=MBiz_E-Newsletter+August+28%2C+2017+&utm_campaign=aug+28+newsletter&utm_medium=email