The Yorkton Chamber of Commerce is encouraging local business owners to contact their members of parliament about proposed federal tax changes.
鈥淸These changes] could have serious consequences, particularly for small businesses,鈥� said Juanita Polegi, the Yorkton Chamber鈥檚 Executive Director.
The proposed changes include taxing income from investing profits at a rate of 70% and making it difficult for children of business owners to get the capital gains exemption.
In a report for the Chamber of Commerce Canada, Hendrik Brakel, Senior Director for economic, financial, and tax policy, called the changes the 鈥渕ost radical tax overhaul in 50 years.鈥� He said the proposals may be designed to stop tax evasion and abuse of loopholes, but these taxes will 鈥渉urt families and punish entrepreneurs.鈥�
Polegi urges business owners to tell their MPs how these proposals could impact them.
鈥淭he sooner they can get in touch with their MPs, the better,鈥� she said.
Polegi suggested business owners attend their luncheon at the Painted Hand Casino on September 7. A represetative from KPMG will be there to discuss the proposals in greater detail.
