- Do you employ family members? The government wants to scrutinize their compensation to apply a much higher tax rate on income they consider “unreasonable”.
- Do you invest the profits from your business? The federal government is proposing to tax that income at an effective rate of 70%.
- Do you want to pass your business on to your children? Tough new rules make it difficult for younger kids to get the capital gains exemption. They could be double taxed.
Finance Canada is proposing the most radical tax overhaul in 50 years. These proposed changes will have an impact on all incorporated businesses in all sectors of the economy from retailers to restaurateurs to farmers and consultants. We are concerned that these changes will stall business growth in Canada and punish legitimate businesses.
We are asking for your help. Send an email to your Member of Parliament using these steps:
- Highlight and copy the sample letter below.
- Send a letter to MP Pam Damoff or Send a letter to John Oliver
- Copy Faye Lyons, Vice President of Government Relations and Advocacy firstname.lastname@example.org
- Paste the letter below into the body of the email.
- Be sure to personalize the letter (everything in italics).
- Click “Send”
We urge the government to put these changes on hold to avoid hurting thousands of small businesses across the country and to have a broader, more thoughtful discussion regarding the measures needed to stop those who use their businesses to avoid paying taxes.
Sample Letter to MP
Subject Line: Tax Changes will Hurt Small Businesses
Dear MP Name
Over the summer, the federal Finance Department has made it clear that it intends to make the most sweeping changes to business taxes in 50 years.
From my perspective, as a business owner, I want you to know how this is going to affect my business.
(Please share your business story.)
So that you have a snapshot of my business, here’s some information:
The number of people I employ:
The type of business:
I started this business in…
My customer base is… e.g. mostly local…
My supplier base is… e.g. mostly local/Canadian/etc.
Nobody supports tax evasion or loopholes. But these changes will punish legitimate businesses like mine.
I am particularly upset because this government has said it is committed to providing new opportunities for SMEs to grow. My business and many others like mine are the backbone of many communities – my community included. Our businesses employ citizens; our businesses support local initiatives – everything from soccer teams to fundraising drives for refugee families. If these changes go through, our local businesses, including mine, will no longer have the capacity for these community activities. I understand that draft legislation is in place concerning these changes.
I urge the government to put these changes on hold to avoid hurting thousands of small businesses across the country and to have a broader, thoughtful discussion regarding the measures needed to stop those who use their businesses to avoid paying taxes.