Defending your interests on the federal tax changes

Posted by: Kaitlyn Mason on September 29, 2017

Finance Canada has announced some of the most sweeping changes to the business tax laws in decades, and they may seriously harm your small business.

Since that announcement we have been actively advocating on behalf of your business to ensure the government is aware of the potential impacts, and have asked for an extension to the 75-day consultation period.

Here is some of the advocacy work that we have done on this issue:

  • Following the announcement made by Finance Canada on July 18, 2017, we notified our members of the proposed changes and briefly outlined some of the implications.
  • We published a blog that describes the current tax rules, along with the proposed changes and how they will likely impact Calgary businesses.
  • On August 29, 2017 we asked members to complete a survey that explains the proposed changes, and asked for feedback on the potential impacts. So far, we have received 120 responses, and have been using this feedback to guide our discussions and recommendations to government.
  • On September 14, 2017 we held a roundtable with Minister Kent Hehr to give Calgary businesses an opportunity to share their personal business stories, and how they will be impacted by the changes.
  • On September 20, 2017 we hosted tax experts from EY and PwC for a webinar to break down the tax changes, cut through the jargon, and answer questions. If you missed the webianr, you can watch a recording here.
  • On September 20, 2017 we also made a letter available for you to send to the government. You can even edit it to include how you will be personally impacted by the tax changes. Make sure to use our simple form to submit a letter and have your voice heard!
  • On September 23, 2017 our President and CEO, Adam Legge, published an op-ed in the Calgary Herald outlining some of the impacts that will result from the proposed tax changes, and urging all levels of government to stop looking for more money from the business community.
  • Using the feedback received from members, we are producing a comprehensive letter to government outlining the impacts of the changes and asking for the 75-day consultation period to be extended. While we are opposed to the changes, will be submitting constructive recommendations to Finance Canada that will aid with tax reform, without placing large costs on the business community.

Rest easier knowing we have your back on this issue, and will keep you informed as the government finalizes legislation and starts to implement any changes.

Know that we will continue to work with all levels of government to remove the barriers and added costs that are making it harder for you to run and grow your business.