THUNDER BAY – BUSINESS – Today marks the final day of consultation on proposed federal Corporate Tax changes and the Thunder Bay Chamber of Commerce has outlined its concerns in a written submission to the Minister of Finance.
Chamber President Charla Robinson says, “Small business owners are rightfully concerned about the impacts of the proposed changes on the ability of their business to be successful and the elimination of incentives to take the risks that are part and parcel of entrepreneurship.”
The Chamber’s submission calls on the Government to:
- Rethink its proposed tax changes to ensure that no harm is done to small businesses across Canada.
- Launch meaningful consultations with the business community to address any shortcomings in tax policy without unfairly targeting independent businesses.
- Consider a comprehensive review of the Canadian tax system with a view toward fairness and simplification for all taxpayers, which was recommended by the Standing Committee on Finance in their report dated December 2016.
The Chamber is also asking the community to get involved by signing a petition in opposition to the changes at tbchamber.ca/fedtax. Robinson says, “Small business is the lifeblood of our city’s economy. We must all raise our voices to ensure that our community can be successful.”
The full submission, which was provided in advance to local MP’s Hon. Patty Hajdu and Don Rusnak, contains information that was compiled by local tax experts regarding the anticipated consequences of the changes to small business clients in Thunder Bay.