441-01837 (Business and trade)

We, the undersigned citizens and residents of Canada, draw the attention of the House of Commons to the following:

Whereas, the current tax regime greatly favours selling a small business or farm to a family member then a stranger;

Whereas, continued family ownership and long-term business stability are weakened by the current taxation rules;

Whereas, small businesses are the backbone of our economy and communities;

Whereas, the average age of a Canadian farmer in 2016 was 55;

Whereas, the Canadian Federation of Agriculture (CFA) estimates that $500 billion in farm assets are set to change hands within the next 10 years;

Whereas, farmers and small business owners are unfairly penalized by the tax system if they want to sell their business and assets to a family member.

Therefore we, the undersigned citizens and residents of Canada, call upon the Government of Canada to:

1. Support and quickly pass Bill C-208, (transfer of small businesses or family farm or fishing corporation), which will ensure that farms and businesses can be transferred to the next generation without having to worry about unfair taxes; and

2. Ensure that family owned small businesses and farms are encouraged, supported and red tape is eliminated.