Tell the federal government not to punish small businesses with its new tax proposal

Unfair tax changes
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The federal government has proposed sweeping tax changes that could harm every Canadian small business.

Your business is already facing looming EI and CPP hikes, trade uncertainty, as well as other increased expenses. Now, on top of all that, the proposed tax changes may inflict even more pain on your small business.

Here’s what you can expect if these proposed changes become law:

Paying thousands more in taxes each year

Currently, business owners can lower their taxes by sharing income (salaries, dividends) with their family members. Under the proposed changes, you may face added red tape, including meeting a “reasonableness test” to prove that your family “legitimately” works for you. This test will be even more rigorous for adults between the ages of 18-24. The federal government appears to have forgotten that when there is a business in the family, everyone shares in both the work and the risks.

Higher taxes on savings in your business

As a small business owner, you are able to keep certain investments in your business in order to set money aside for business investments, emergencies or your retirement. But the government is saying that this tool gives you an unfair tax advantage over employed Canadians—so it wants to stick its hand into your nest egg and tax your passive investments at a much higher rate.

Getting blindsided by retroactive taxes

The government is proposing changes that may make it more difficult for you to retire and sell or transfer your business to your kids. These proposals may almost be a form of retroactive taxation depending on how your business is structured. 

CFIB is committed to bringing your concerns to the government. We will continue to fight for your business and urge the federal government to take these unfair proposals off the table.

We want the government to know how these tax changes will impact your business. Sign the petition and share your story.

Make your voice heard
Tell the Finance Minister and your MP how these changes would harm your business. Sign the petition today.
Understanding your tax changes
Get a detailed look at the federal government's proposed tax changes and how they could impact your business
CFIB on your side
Learn how we're taking action against these changes.
Questions? Feedback?
Do you have questions or want to share how these changes could impact your business? Contact Business Resources at 1-888-234-2232.
 

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