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Proposed Federal Tax Changes

If you have been following our updates, you know we are in advocacy high gear regarding the tax changes the federal government is proposing.

Learn more at our “Business Update with MP Pamela Goldsmith-Jones”  at Hunter Gather on Wednesday, October 11, 2017 from 4 – 5pm.
Event Info & RSVP Here >>

The Challenge:

 

Are you a business owner? If your business is incorporated, then you could be facing a larger tax bill and big compliance costs from the government’s new proposals to change the way corporations are taxed.

3 things you need to know about the proposed changes:

  1. Do you employ family members? The government wants to scrutinize their compensation to apply a much higher tax rate on income they consider “unreasonable”.
  2. Do you invest the profits from your business? The federal government is proposing to tax that income at an effective rate of 70%.
  3. 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.
READ: Canadian Chamber of Commerce – Detailed Policy Analysis

We’re Taking Action:

 

  1. Providing a template letter to send a message to your MP today.  Download Template Letter

MP for West Vancouver – Sunshine Coast – Sea to Sky Country, British Columbia:
Pamela Goldsmith-Jones, Liberal Party of Canada

Mail letters to:
Pamela Goldsmith-Jones,MP
Room 583 Confederation Building
Ottawa ON
K1A 0A6

Email:   pam.goldsmith-jones.a2@parl.gc.ca

2. National Postcard Campaign 
Come pick up a postcard at the Whistler Chamber office and simply add your name, business and brief sample of why these tax changes will hurt your business. Chambers from across Canada are providing postcards for members to mail their opposition Ottawa.

3. #ProtectGrowth Campaign 
Film a video message telling your story of how the proposed tax changes will impact your small business and send it to protectgrowth@chamber.ca so we can share them on the #ProtectGrowth website and social media. Videos should be about one minute in length and be taken in front of your business location if possible. These videos do not need to be fancy and can be recorded on an iPhone or similar device.

4. The Whistler Chamber’s Advocacy Committee consulted with the local accounting firms to assist in creating our own letter to MP Pamela Goldsmith Jones.

READ WHISTLER CHAMBER LETTER TO MP

5. The Coalition for Small Tax Fairness
Thirty-five business groups, including the Canadian Chamber—on behalf of the hundreds of thousands of members they represent—have presented two letter to Finance Minister Bill Morneau asking the government to take these proposals off the table and instead meet with the business community to address any shortcomings in tax policy affecting private corporations.
August 30th letter >>                    September 26 Letter >>

6. Proposed Tax Changes – Member Poll: Data from a Member Poll gathered crucial Whistler-specific intel on this issue that was provided to MP Pamela Goldsmith-Jones and enabled us to advocate on as the voice of Whistler business.

POLL IS NOW CLOSED – READ RESULTS

 

Results for our Members:

Whistler Chamber CEO, Melissa Pace had a phone meeting with our MP, Goldsmith-Jones on Wednesday, September 13. In speaking with Pamela, she is sympathetic to our business community needs and is motivated to make changes to support small business.  She will be speaking with Minister Morneau’s Chief of Staff Thursday, September 14 on this issue and has a personal meeting with Minister Bill Morneau in Ottawa next week. In preparation for this meeting in Ottawa, she looks forward to our community’s input as she is drafting a letter to the Minister to assist in changing his mind over the proposed small business tax reform.

On Tuesday, October 4, Pamela Goldsmith-Jones had this to say about the proposed tax changes:
“I have received over 1200 emails opposed to some or all of the changes, and I have spoken to hundreds of you personally. I am actively presenting your views to Minister Morneau, his staff team and my caucus colleagues. Thank you for your candid and insightful views. I believe it is in the public interest to allow the Minister to consider this vital input and provide a formal response as soon as possible.”

Pamela Goldsmith-Jones to speak directly with Members in Whistler at Hunter Gather on Wednesday, October 11, 2017 from 4 – 5pm.
Event Info & RSVP Here >>

Stay tuned for more as we continue to advocate on this issue over the coming weeks.

 

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