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Friday, September 15, 2017

MP Holds Tax Discussion Rountable

Owen Sound | by Kevin Bernard  

Bruce-Grey-Owen Sound MP Larry Miller meeting with stakeholders on federal tax changes.

Concerns raised by a number of small business owners about the looming federal tax changes led Bruce-Grey-Owen Sound MP Larry Miller to call a roundtable discussion on the issue.

Miller will host the roundtable Friday September 15th and says the need to consult key stakeholders arose because his office has been 'inundated' with calls from small business owners from many industries, including farmers, accountants and doctors, among other professionals.

The Liberal government announced tax changes in July, which include reducing “incoming sprinkling” or income splitting between family members, curbing passive investment income and shifting a corporation’s normal income to capital gains.

A 75-day consultation period is part of the Liberal plan.

"It isn't just farmers that are going to be affected by this, it's the mom-and-pop shoe store, the pizza shop. There's all kinds out there and these guys are targeting them," Miller says.

"Bill Morneau and the Prime Minister think that small business people are in business for a tax shelter," Miller says. "Give me a break."

Miller points to overspending by the Trudeau Liberals and sees the looming tax changes as a revenue source for the government to cover their expenses.

Prime Minister Justin Trudeau has been steadfast in defending the Liberal plan, saying the government intends to close "tax loopholes."

Miller says he's not against making tax changes, or re-visiting how we pay taxes from time-to-time, but there is a need for proper consultation and they must be done for the right reasons.

The Grey-Bruce-Owen Sound MP says the purpose of the meeting is to generate suggestions to better pursue tax changes to present to the government.

According to Statistics Canada, small to medium enterprises make up about 55% of the 1.1-million small businesses in the country.

The roundtable is not open to the public, but Miller says persons or groups who wish to make a presentation, to contact his office (519-371-1059) and staff will try to accommodate.

(The Roundtable takes place 11:30-1:30 p.m. at the AJ Casson Suite - Best Western Inn on the Bay)

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