Motz hosting town hall to discuss proposed tax changes
By Gillian Slade on September 21, 2017.
gslade@medicinehatnews.com @MHNGillianSlade MP Glen Motz is hosting a townhall meeting Friday regarding federal tax changes — aimed at closing certain loopholes — which critics say will affect farmers and small business in a negative way. “Drastic tax changes proposed by the federal Liberals, which experts say will have a devastating impact on Canadian small business owners and farmers, will come under scrutiny during a townhall meeting…” said Motz, a Conservative MP for Medicine Hat-Cardston-Warner. The meeting from noon to 1:30 p.m. will take place in the Medicine Hat College Theatre. Motz invites small business operators, farmers, professionals and the public to come discuss the changes. The speaker at the event is Pierre Poilievre, the official opposition’s shadow minister of finance. “They spent years building their businesses. Now they feel like Justin Trudeau is treating them as nothing more than tax cheats,” said Poilievre. “We should be asking how we can help them grow and succeed, not how we can tax them out of business.” Motz notes that small business is the backbone of the economy that employs more than 8.2 million people — the equivalent of 70 per cent of the total labour force in the private sector. He says the government’s proposal will see middle class farmers and small businesses spend more on complying with regulations and red tape. “I have heard from and met with numerous accountants, physicians, farmers and a wide variety of small business owners who are extremely concerned with the negative impact this proposal will have on our economy, escalated unemployment and closure of small businesses,” said Motz. Federal Finance Minister Bill Morneau released this summer the government’s plan, which includes restrictions on the ability of business owners to lower their tax rate by sprinkling income to family members in lower tax brackets — even if those family members do no work for the business. Morneau also proposed limiting the use of private corporations to make passive investments in things like stocks or real estate, as well as limiting the ability to convert the regular income of a corporation into capital gains, typically taxed at a lower rate. The Liberal government claims current loopholes favour the wealthiest Canadians, which this legislation would close, while a few of its own backbencher MPs say the complexity of proposals has led to confusion and divisiveness. — with files from The Canadian Press 14
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