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.
We, the undersigned, concerned citizens and residents of Canada, call upon the Minister of Finance to abandon his proposed changes in the “Tax Planning Using Private Corporations” proposal and to publicly commit to not raising taxes on small business owners which would adversely affect all Canadians.
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