Now it's small business in their sights.

[ZR]

Now feds are coming after small businesses cause some are making too much money. Nice how the examples they give are doctors n lawyers making hundreds of thousands but they are willing to scoop up those who have in essence bought themselves a job into the mix. What happened to small business is the backbone of the country? Between them and Kathleen and her new minimum wage, might as well pack up the mom n pops businesses while you still have enough dough to get outta Dodge. Oh wait, can't do that right now cause the Ont Lib's fucked with your homes resale last month.
These idiots could not run a pay toilet without screwing it up!

[5.4MarkVIII]

This has had me stewing for the last couple days.
The irony is not lost on me with the fact that Trudeu calls small business owners "cheats"
While he himself has multiple numbered companies to handle his trust funds but he has never actually run any kind of business.

They have spent years brainwashing the younger generations to think you can't be successfully without a 4 year arts degree. Now none of those people can get a job so blame the small business man.
They are the fault for all your mistakes.

The hate for business owners is almost as bad as the hate for conservatives

[1986stangfan]

I'm ready to shut my business down, but at the same time i hate to let trudope and wynnbag bully me


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[WTF]

this move will cost the Libs the next Federal Election

[Laffs]

this move will cost the Libs the next Federal Election

God I hope so, can't stand the lot of them ruining the country.

[1986stangfan]

this move will cost the Libs the next Federal Election


Pleeaaasse let that be true!!!

[Harbinger]

Lol it just gets worse and worse. Between this and the housing market being unnaturally expensive cough because foreigners, canada is circling the drain

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[RedSN]

Doing my best to support the little guy.
This weekend at the cottage we sourced all our supplies from local producers and growers. Steaks from Goodfellow's, vegetables and corn from a roadside stand, pickles from the General Store, beer from Parson's, wine from Sandbanks. Hired a local landscaper for some work next spring. Went for dinner at a local brew-pub.

It's so much easier outside of the GTA to support the small business. It's more of a challenge here in the City because of all the big business competition. The only small businesses around here are generally niche markets.

[Mellow Yellow]

To be fair they are singling out doctors lawyers and accountants because of, what's called, professional corporation.

In these corporations (and some others) the owner gives shares of a different class to their children. They then "sprinkle" dividends to the kids as required. The kids would pay little or no tax saving as much as 23% tax. The corporation would generally pay tax at 15.5%.

A good example is child A is going to University and needs tuition. Daddy declares a dividend to the shares that child owns. That child takes the dividend into their taxable income....but they have a tuition credit that offsets the dividend...therefore no additional tax.

If daddy had withdrew the money there would be additional personal tax up to an additional 30% (approx). Sure daddy would be able to claim the $5,000 of the tuition, with the rest carried forward by the kid.

So they are going after the additional tax that has been sheltered.

Regular corporation owners should not be as concerned. As an accountant I didn't set up a professional corporation as my children were grown when I went back on my own.

[5.4MarkVIII]

From what I have read.
These tax exempts were built into the laws to entice people to start small business and for entice business owners to grow their business. Both to help grow the economy.
While they say they are targeting those who are taking advantage. The reality is that it will hurt business and make more business owners walk away. Or move south of the border.

Like everything else they have done. Say it won't be that bad then it turns out even worse than anyone imagined. Like when they said they were going to continue with the Harper governments plan to reduce business tax. Then the first thing they did was freeze the tax rate.

Add to that. The fact that we are still waiting on word of the tax changes the provincial government is going to make for business.
Things are going to get much worse

[ZR]

^ thought we'd never agree.

[StAnger]

There used to be a time when people would actually do something about corrupt governments.

[92redragtop]

This is a slippery slope with these guys. There will be small business deductions/credits that will eventually go away if this goes through.

[ZR]

^ I believe the same thing.

[StAnger]

Maybe it's time to bring this back to deal with our Aristocratic government.

https://vignette.wikia.nocookie.net/evil/images/f/fd/The_Guillotine.jpg/revision/latest?cb=20160427032721

[5.4MarkVIII]

https://www.linkedin.com/pulse/response-justin-trudeau-comments-i-want-clear-people-who-macintosh