Gord Brown to host consultation on finance proposals for small business – HomeTown TV12

Gord Brown to host consultation on finance proposals for small business

Gord Brown to host consultation on finance proposals for small business

Brockville – Gord Brown, Member of Parliament for Leeds-Grenville – Thousand Islands and Rideau Lakes, will host a meeting on Thursday, September 14 to hear from constituents about the small business tax changes proposed by the current government. It will take place at the 1000 Islands Mall Community Room from 5:30 pm to 7 pm.

Joining Brown will be The Honourable Pierre Poilievre, MP for Carlton and Opposition Finance Critic.

On July 18, the Minister of Finance announced his intention to eliminate certain tax measures that allow Canadians to avoid higher taxes.

The proposed measures include the ending the practice of business owners “sprinkling” their total income among family members in lower tax brackets who don’t directly work for the company, taxpayers using private corporations as a substitute for a regular
savings account, and taxpayers converting a private corporation’s regular income into capital gains.

“Since these proposals were announced I have been receiving feedback from all across the riding,” explains Brown. “Many small business owners including family doctors and other professionals that we rely on every day have contacted me to express concerns
about their ability to maintain their offices and businesses under the proposed rules.” He notes that these business owners don’t have many of the tax benefits of other Canadians and these measures allow them to save for retirement, rainy days, and to have the capital to grow their businesses.

“I support policies that reduce the tax burden for small and medium sized businesses, reduce red tape, and allow entrepreneurs to create jobs,” comments Brown. The current government’s tax hikes (higher small business tax rates, increased payroll taxes and a new carbon tax) are making it more difficult for entrepreneurs to maintain and grow their businesses, he notes.

As well, small businesses are being crushed by substantial increases in operating costs due to higher electricity and service rates. And soon, they will also face wage hikes. The government has announced a 75-day consultation period on its proposals that ends October 2.

“The Official Opposition is participating in that consultation and I want to gather information from business owners in Leeds-Grenville,” Brown explains.

Participants at the consultation can attend for the entire evening or come and go as they please. Pre-registration is not required.

To review the tax proposals visit: http://www.fin.gc.ca/activty/consult/tppc-pfsp-eng.asp

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