President, Rory Francis wrote a letter to the Member of Parliment for Charlottetown, Sean Casey, outlining the Greater Charlottetown Area Chamber of Commerce’s concerns related to the federal government’s recently proposed tax changes.
The letter drew attention to problems with the proposed changes, which include:
- The negative manner in which the consultation document portrays small business owners;
- The potential tax increase on “passive income”;
- The expectation that business owners must prove the amount of time and investment a family member puts into the business is “reasonable” compared to the dividends received;
- The proposed removal of the capital gains exemption;
- The anti-entrepreneurial sentiment that exists throughout the consultation document.
Click here to read and download a copy of the letter.