October 10, 2017
by Department of Finance Canada
The Government of Canada is committed to fixing a tax system where wealthy and high income individuals are encouraged to use their private corporations to pay lower tax rates than middle class Canadians. The Government has listened to small business owners, professionals and experts during the consultation on tax planning using private corporations, and will act on what it has heard.
Following the close of formal consultations, Finance Minister Bill Morneau, Small Business and Tourism Minister Bardish Chagger and Parliamentary Secretary for Finance Joël Lightbound today thanked the thousands of Canadians from across the country who engaged in this important discussion. Their voices were heard at town halls, roundtables, Facebook Live events and meetings held from Vancouver to St. John’s. Minister Morneau also met with Parliamentarians, including members of the House of Commons Standing Committee on Finance. Canadians’ views are being carefully considered, and a detailed review of submissions received during the consultation period is being undertaken.
The Government will base its next steps on the following key principles. We will:
I do hope they addressed gender issues based on the fact that we don’t get paid maternity leave nor do we get compensation for working part time nor do we get sick days when we have to care for our children. We often start our careers later and often work less to take care of children, family, and ageing parents.
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