Call To Action - Proposed Tax Changes Will Harm Family Enterpris

Call To Action - Proposed Tax Changes Will Harm Family Enterprise

We would like to provide an update with regard to our efforts on your behalf to fight and oppose the proposed federal tax changes released by the Minister of Finance on July 18, 2017. I am sure by now you have seen that the opposition is growing and gaining strong momentum. Through the media and from releases of other organizations you will have seen the technical analysis of the proposed new rules, clearly showing their devastating effect in terms of taxation of private family business.

While opposition is growing rapidly there is still considerable effort required to get the Minister of Finance to take these proposed tax changes off the table and allow for more study and review. In fact, this is our strategy, to focus our message on elected representatives, your Members of Parliament, to intervene and ask the Minister to delay moving forward on implementation to allow more time for full study of the impact and a broader consultation with those affected.

You should also be aware that the Family Enterprise Xchange is working collaboratively with a broad group of organizations who have agreed to work together in presenting a unified voice to oppose the federal government’s tax proposals. This group includes the Canadian Chamber of Commerce, Canadian Federation of Independent Business, Canadian Federation of Agriculture and many other organizations representing hundreds of thousand of private family businesses across the country. Together we are mobilizing our respective memberships to get involved and speak or write to their Members of Parliament. Stay tuned for more information on how we will prepare and submit a joint response to the Minister of Finance outlining the concerns of our members and requesting a delay and further study of the proposals before implementation.

The Family Enterprise Xchange position and comments regarding the proposed tax changes focus on the longer-term impacts from a public policy perspective and the fundamental unfairness with regard to how these major changes in tax policy are being presented and implemented by the Minister of Finance. Highlights from Canada’s Family Enterprise community are as follows. Click here for key messages in full, with talking points.

· Federal proposals represent significant tax reform for family business in Canada
· Family business owners are the middle class
· Family enterprise is the engine of our economy
· It’s misleading to equate business owners with salaried employees
· Proposed new rules introduce more complexity and uncertainty
· Intergenerational business succession made even more difficult

OUR CALL TO ACTION
At this time we are asking you to phone, write, or email your Member of Parliament to express your concerns and request they work on your behalf to have the tax proposals taken off the table for now to allow for a more fulsome review and consultation. We have prepared a draft letter which you can use to communicate your concerns directly to your Member of Parliament. Quick action is important as the MP's are about to get together for caucus meetings in advance of the return to Parliament. The Liberal caucus will be meeting on September 5 - 7 in Kelowna, B.C. Communicating with your Member in advance of this caucus meeting will help build momentum in the campaign to have these proposals delayed. Click here to find your Member of Parliament using your postal code.

We will be continuing our efforts on your behalf in the coming weeks to oppose and delay the new tax rules. Please join in the fight by following through on our call to action and stay tuned for future updates from Family Enterprise Xchange.

Allen S. Taylor
Chair, Family Enterprise Xchange

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