Tax Changes Will Hurt Small Businesses Monday, September 25, 2017

Letter Sent to the Cambridge Chamber of Commerce Membership   The federal government's recent small business tax proposal is punitive and will have damaging effects on business communities in Ontario and across the country.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.These proposed changes will negatively impact tens of thousands of businesses by raising taxes, reducing incentive for private investment, increasing administrative burdens, and making it even more difficult for a business to be transferred from one generation to the next.   Family businesses and family farms are being touted as tax cheats by the Federal Government. Although, they have walked that back - the fact is they have described legitimate and legal use of the tax laws are wrong and most commonly referred to as a loophole. This is not only ignorance of what it takes to build a successful business, but makes Canada the only country in the world to impose such punitive tax measures on small business. It is clear, this government has no respect for business, especially the locally owned family business.   The immediate reaction from our members and businesses across Canada was negative. We are particularly worried about the effects of the proposed tax changes for small and medium sized businesses - who are essential to our thriving local business community. We encourage local businesses to contact our  MP to provide feedback on the possible changes.   Bryan May, M.P., Cambridge & North Dumfries 534 Hespeler Road (Main Office) Suite A4 Cambridge, Ontario N1R 6J7 Telephone: 519-624-7440 Fax: 519-624-3517  [email protected]   Marwan Tabbara, M.P. Kitchener South - Hespeler 153 Country Hill Drive (Main Office) Suite 2A Kitchener, Ontario N2E 2G7 Telephone: 519-571-5509 Fax: 519-571-5515   [email protected]    As an organization, we support reasonable attempts to reduce tax evasion or loopholes. However, these changes are insulting to businesses that have worked within the rules in good faith to build their businesses, to save for retirement, and sometimes just to keep their doors open.   Small Business is Too Big To Ignore and we need to demonstrate this with one voice.     If you're not a small business owner but work for one, ask Mr. May and Mr. Tabbara to protect YOUR job by supporting small business entrepreneurs in Cambridge.   SIncerely,   Greg Durocher Cambridge Chamber of Commerce President/CEO

Posted By: Greg Durocher at 9:26 PM

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