Justin Trudeau ‘will make no apologies’ for proposed tax changes that anger small business owners
By Mark Poty:
"While we will be closely monitoring these proposals for more details, at this time we don't think this will affect the majority of our client base. The corporate tax rates are not changing, just the way money taken from the corporation is being handled. We will be in touch with our corporate clients soon."
OTTAWA – Justin Trudeau says he’s paying attention to the growing dissent over his government’s controversial plan to eliminate tax incentives that he insists only benefit wealthy small business owners.
But the prime minister said Friday he “will make no apologies” for the Liberal government’s commitment to helping the so-called middle class, even at the expense of the wealthiest Canadians.
Speaking to reporters in Saskatoon, Trudeau acknowledged the backlash over what the government calls proposals to inject more fairness in the tax system by closing loopholes used by a growing number of small businesses.
“We’re doing more for the people who need it and doing less for the people who don’t,” Trudeau said.
Entrepreneurs, major industry associations, tax experts and political rivals have warned the three-part plan would hurt the economy and small businesses, including many whose owners would be considered middle class.
The potential changes under scrutiny include ending a practice that allows business owners to lower their tax rate by sprinkling income to family members in lower brackets, even if those relatives are not active in the business.
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Article Courtesy: http://globalnews.ca/news/3714143/justin-trudeau-no-apologies-tax-changes/- Andy Blatchford