Today, Canada’s Senate called on Finance Minister Bill Morneau to withdraw the government’s proposed tax changes and study our entire tax ecosystem.
Because these proposed changes will have consequences. They’ll hurt small businesses.
The Senate committee in particular drew attention to the feedback your Chamber provided through our Board Member Mark Jones on the consequences of changing passive investment rules:
”If the government hits investment income with a 73 percent tax, business owners will have no incentive to keep surplus assets in the business… This punitive tax would cause them to invest less, cap the size of their savings, and hold less productive assets… ultimately it will impact job creation.”
We continue to work on this important issue. It’s an honour to serve our members and ensure the voice of Winnipeg business is heard on Parliament Hill.