Canadian Tax Reform Proposal - What a Crock

[JAJT]

Small businesses, Trudeau government headed for autumn tax showdown

In short, the liberals want to:

- Prevent corporate income from being taxed as capital gains
- Prevent passive income investments
- Prevent shifting income to family members at lower tax rates

Apparently being a small business owner isn't hard enough for Canadians so the Liberals want to make it harder.

If the tax burden on small businesses was "zero" this would STILL be a damn hard way of life to make work. Having ANY help taken away is nothing short of a slap in the face.

Entrepreneurs have none of the benefits of regular employment. How many thousands of dollars in assistance per year do we give up by going it alone compared to traditional employment?

We get no dental benefits, no stock matching plans, no regular income, no group retirement plans, no paid time off, no sick leave, no employment insurance or severance pay, nothing.

We take enormous risk to ourselves and our families by doing this. Yet we have it too easy compared to regular Canadians and the playing field needs to be leveled? Give me a break.

This isn't something that will only harm the super wealthy who shield their vast fortunes in tax havens.

It's harming normal everyday entrepreneurs like me and you. Today.

What a crock.

 

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[Azure]

Not to mention the educated professionals like doctors and lawyers. Our doctors are already in a shortage, and now were going to drive even more away.

Bill Morneau is a F*cking retard, pardon my French.

 

[G-Man]

"wealthy, small-business owners" - makes you wonder if the people who create these policies and write articles about them realize that the guy that spent 6 hours in the heat pumping the shit out of their septic tank, drives a 15 year old pickup, and lives in a blue collar neighborhood is a small business owner

 

[mike24601]

I just read an article about fallen star shit-pile Jones Soda Co. thinking about making the move back to Vancouver, BC after 20 years in the states because Seattle's anti-business climate had gotten worse than Canada's. Perhaps they will rethink it.

 

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[ddzc]

Small businesses, Trudeau government headed for autumn tax showdown

In short, the liberals want to:

- Prevent corporate income from being taxed as capital gains
- Prevent passive income investments
- Prevent shifting income to family members at lower tax rates

Apparently being a small business owner isn't hard enough for Canadians so the Liberals want to make it harder.

If the tax burden on small businesses was "zero" this would STILL be a damn hard way of life to make work. Having ANY help taken away is nothing short of a slap in the face.

Entrepreneurs have none of the benefits of regular employment. How many thousands of dollars in assistance per year do we give up by going it alone compared to traditional employment?

We get no dental benefits, no stock matching plans, no regular income, no group retirement plans, no paid time off, no sick leave, no employment insurance or severance pay, nothing.

We take enormous risk to ourselves and our families by doing this. Yet we have it too easy compared to regular Canadians and the playing field needs to be leveled? Give me a break.

This isn't something that will only harm the super wealthy who shield their vast fortunes in tax havens.

It's harming normal everyday entrepreneurs like me and you. Today.

What a crock.

Our government is a complete and utter joke.

 

[The-J]

Proposal here

Prevent corporate income from being taxed as capital gains

Great, let's further hinder a self employed person's ability to provide a retirement plan

- Prevent passive income investments

Might be OK if this didn't also hurt returns that small business owners make from real estate

Prevent shifting income to family members at lower tax rates

This literally only hurts small business entrepreneurs. People making millions upon millions can't do this adequately. They'd save the same monetary amount but it wouldn't change their returns by much. For small business entrepreneurs, this is one of the only tax advantage they have over employees.

The rationale is that... it's unfair to highly compensated employees.

What?!?! T'es nul ou quoi ?! That doesn't make any sense!!

All for an extra $250m in revenue. Yes, let's hurt the small business owner while doing F*ck all to the fat cats up in their Bay Street ivory towers. I wonder who is putting this shit forward. This doesn't help the lower income people, restricts those who are building investment-based businesses and family businesses, and doesn't target the REAL issue: the fact that huge corporations are hiding BILLIONS in revenue through THEIR sneaky bullshit.

Billions vs. $250m. Getting the big companies to pay their fair share vs. hurting the small business owner's ability to provide for his family's posterity.

Here's what this dumbass government wants: it wants to keep corporate rates low (inviting more big business interests) while making the voting pop think that they're getting something back.

F*cking hell

 

[Locomote]

Its very frustrating, bitterly disappointing and just comes across as a pure disconnect and ignorance for the government to say it wont have an adverse affect small business, especially to hold a consultation period when the people supposed to be listening are on holidays FFS... when the government talk about how much emphases is put on Canadian innovation and of helping out the little guy.

For anyone who's unsure of what effects its going to have heres a good example:

Small business owners criticize federal proposal to close some tax loopholes

 

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[inputchip]

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