Major Tax Changes Affecting Small Businesses Ahead – Make Your Voice Heard!

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On July 18, 2017, the Federal Government released a discussion paper outlining proposed significant tax changes that will impact tax planning for private corporations and their shareholders. In a joint presentation last night, Hendry Warren LLP, LaBarge Weinstein LLP and Raymond James Ltd. discussed the highlights of the discussion paper and its related implications, the planning opportunities available to taxpayers and the different ways people can make their opinions about the proposals known as part of the consultation process.  We have posted the slides from last night’s presentation on our website for those who could not attend or are looking for more information . We have also included an open letter to Finance Minister Bill Morneau written by one of the firm’s founding partners, Ian Hendry, outlining Hendry Warren’s concerns with the proposals.

The Government has invited Canadian taxpayers to submit comments by October 2, 2017 on these proposed changes. We encourage small business owners to be proactive and have their voices heard. Contact your local Member of Parliament and respond to the Department of Finance‘s proposal with your views and concerns. You can visit the “Resources” section of our website for detailed information on how to respond to the Department of Finance’s proposals. If you plan to reach out to your Member of Parliament, you can find their name and contact information on the House of Commons website.