Greater Sudbury Chamber of Commerce objects to federal government proposals to reform tax code
Greater Sudbury, October 3, 2017: The Greater Sudbury Chamber of Commerce has sent a submission to Minister of Finance Bill Morneau in response to the Canadian government’s discussion paper proposing radical changes to corporate taxation.
On behalf of Greater Sudbury’s business community, the chamber voiced a number of concerns about the changes to taxes on passive investment, capital gains and income splitting. The submission objects to the discussion paper’s divisive language, highlights the complexity of business ownership and says the proposed changes are vague and unclear.
The chamber is calling on the federal government to extend the consultation period on these tax changes and to implement a royal commission to study reforms to the tax code in a neutral and impartial way. The consultation period closed October 2, 2017 and was a mere 75 days.
“The government’s decision to vilify small business owners is counterproductive to any discussion of fairness in the tax system” said Michael Macnamara, Chair of the Board, Greater Sudbury Chamber of Commerce. “We are also concerned that these issues will bring unintended consequences to the Canadian economy. We need to take more time to study these proposed changes – 75 days is simply not long enough.”
The chamber continues to raise awareness about the proposed tax changes and the impact they will have on small business owners. The chamber will be hosting a Leadership Luncheon on Monday October 16, 2017, 12:00 – 2:00 pm at the Radisson Hotel featuring expert presentations on what the proposals mean for business. For more information on this luncheon, please visit sudburychamber.ca.
Read the chamber’s full submission here.
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For more information, please contact:
Bryan Heystee
Policy and Communications Manager
Greater Sudbury Chamber of Commerce
705-673-7133 ext. 224
705-677-5735 (cell)
[email protected]
www.sudburychamber.ca
The Greater Sudbury Chamber of Commerce is a non-profit organization that represents 1,000 businesses and through the participation of its member volunteers on committees and task forces, it works ‘as the Voice of Business’ to influence federal, provincial and local legislation affecting business.