Fed Issue #61 - Trudeau tax changes for small businesses called " anti-business"

[mosquito]

No need to make a comment on this .....


The latest version of the Liberals’ small-business tax measures are outright confiscatory

Allan Lanthier: With both its rhetoric and its legislative initiatives, the government seems intent on driving business investment and jobs out of Canada
http://business.financialpost.com/op...t-confiscatory
A small-business owner takes risks that a salaried employee does not. Family assets are often put at risk; there are many business failures; there are no indexed pensions; there are no paid vacations or paid maternity or paternity leaves.Still, the small-business rate was introduced to assist in the financing and expansion of business activities in Canada — not for passive investments. And so a thoughtful and measured legislative response may well be in order. However, the government’s proposal — with or without a $50,000 annual exemption — is neither. It should be abandoned.


Speaking in Davos at the World Economic Forum in January, Prime Minister Justin Trudeau continued his anti-business mantra. He stated that “too many corporations have put the pursuit of profit before the well-being of their workers,” and that “companies avoid taxes and boast record profits with one hand, while slashing benefits with the other.” With both its rhetoric and its legislative initiatives, the government seems intent on driving business investment and jobs out of Canada.

[Hunter John]

Confiscation indeed.

[seabast]

Oh well, he'll learn... And we will pay the price when most profitable company will be out of here....

[mosquito]

I'll just add it here, the continuous rape of low paying tax payers is ongoing so it would be pointless to keep going until I hit 1,000 assaults on Canadians .....


CRA cracks down on undeclared tips for restaurant and bar staff
https://www.theglobeandmail.com/repo...ticle38025478/

92% of families face tax hike of over $2,200 beginning in 2019: Fraser Institute
http://torontosun.com/news/national/...aser-institute

[MarkB]

The Liberals are idiots. Trudeau is an Idiot. Wynne is an idiot.
We'd be better off flipping a coin to make decisions, at least we'd be right 50% of the time.

[Dythbringer]

It's ok. He is in India for seven days with his family but only working 1/2 day. His "friend", the Aga Khan is there too. Seems he might not have learned his lesson after all.

[mosquito]

It's ok. He is in India for seven days with his family but only working 1/2 day. His "friend", the Aga Khan is there too. Seems he might not have learned his lesson after all.

I mentioned that over here.... it is interesting to watch some of the international media and he seems to be the joke of the continent right now, the Aha Khan is meeting with the president and more... he seems deliberately shunned.
https://www.oodmag.com/community/sho...=1#post1052570

[mosquito]

Well more LIEbral attack on the small businesses and employees....

Health and Welfare Trusts are discontinued.... what that was is a small business allocated funds into an account and you could deduct health care costs from that account paid for by the company. I know it is used by small business owners to have a way to have the company pay some or all of their health and dental costs each year.... GONE. It is replaced by the Private Health Savings Plan that many small businesses don't qualify for:

" disqualify you from a PHSP inc lude
1) A shareholder only receiving dividend income (or no income) and not being an active employee earning T4 income
ii)A sole proprietor with less than 50% non arm’s lengt h employ ees p art ic ip at in g in the plan

Translation, a small business owner where they aren't paying themselves payroll or dividends (not enough income) or paying themselves with just dividends or where the employees are part of the family... a small family business DON'T qualify. In the new PHSP those health claims will have a T4A issued and be part of their income, I was just figuring out T4A and T2215 etc on the weekend.
Nothing like a party of parasite that has everything paid for, automatic raises each year and nannies and paid vacations tearing another strip off the small and family businesses ... again.

[greatwhite]

Well remember Trudeau has never had a real Job an d even the Liberals on here have admitted they don't care how much anyone or any company is taxed as long as they are not taxed.
Remember budgets balance themselves, I challenge anyone going for a loan or mortgage to say that to the banker if they are nearing their credit limit.

When I worked at the bank had you said that to me I would have just stated you don't qualify and yes I did that for one person who was just under their limit as I did not trust them (they lied about some debts and didn't know I could see the debts).

[410001661]

Several years ago I came to the conclusion that the government cannot spend our tax dollars responsibility. So to that point I do whatever it takes to give them the least amount of taxes that I can. Their anti business fiscal policies are creating a vibrant and robust underground economy - which is very good business to a lot of different people.

Most people I know have day jobs and pay their fair share of taxes they cannot avoid. To get ahead one can work some OT but after the tax man gets through you there is little left, but by doing side jobs for extra cash or in exchange for other goods/services is a great way to get ahead without having to give any of it back to an incompetent government so they can turn around and hand it to a 3rd world country. Would you want a trust fund kid managing your personal finances? Then why do we have one running this country.

Keep it up Justin......this is good business for a lot of people for different reasons!