BRIDGEFORCE | Proposed changes to the taxation of private corporations
BridgeForce has been following the Liberal Government’s tax initiative outlined below in a recent Advocis email sent to its members. We believe the time has now come to initiate the action of all BridgeForce Brokers by calling, writing / emailing and visiting your local MP indicating that you are not in favor of the proposed legislation. It affects not only you, if incorporated, but many of your small business and professional clients negatively.
Click here for a sample letter, which you should put into your own words and email to your local MP.
Please take the time to address this immediately as the consultation period closes on October 2, 2017.
Please read the message below (Online version):
Fight Back! Changes to the Taxation of Private Corporations:
Advisors need to speak out to MPs against the proposed changes
In our previous Political Pulse, we outlined that on July 18, 2017, the Minister of Finance announced a government consultation to make major changes to the taxation of private corporations. These proposed modifications include changes to income sprinkling, passive income in a personal corporation, and converting income into capital gains.
Advocis has been working closely with our sister organization, CALU (Conference for Advanced Life Underwriting) on this issue and we strongly believe these proposed changes will have very negative impacts on the ability of independent businesses, including financial advisors, to survive in challenging times. These proposed changes will impede finance growth, innovation and job creation; they will discourage future entrepreneurs. This is why Advocis has joined with over 50 other professional and business associations in strongly opposing the federal government’s planned taxation changes to private corporations.
The Coalition sent a letter to the Minister of Finance, asking him to take these proposals off the table. Letter: http://www.cfib-fcei.ca/cfib-documents/5646.pdf
Time to Fight Back!
Members of Parliament across Canada are hearing from small businesses that these changes are the wrong way to go. Advocis members can help keep up the pressure on our elected officials.
Contact your MP today and let them know that these proposed changes will hurt small businesses across Canada.
The most effective way for you to do this is to send an email or letter in your own words expressing your disapproval of these tax changes.
You can also phone your MP to express your disappointment that the government is proposing these tax changes.
Below we’ve provided some helpful key messages, but we are urging our members to communicate in their own words how this will impact the small businesses they serve.
Take Action Now!
Step 1: Call, Email, Write and Meet your MP
- Find your MP’s email address and phone number: https://www.ourcommons.ca/Parliamentarians/en/members?view=List
Step 2: Spread the word!
- Send this email to other advisors and ask them to take action
Step 3: Let us know who you contacted
- We need make sure we reach as many MPs as possible! Email Andrew Kimber at akimber@advocis.ca who you contacted.
Need Assistance?
If you need any assistance regarding MPs, please contact Andrew by email or at 1 (800) 563-5822 ext. 9817.
As the campaign progresses and we take further actions, we will keep you posted.
Thank you for your help. Let’s win this fight.
Key Contacts
For more information, please contact:
Peter Tzanetakis
VP, Government and Corporate Relations
ptzanetakis@advocis.ca
Tel: 1-800-563-5822, Ext. 9813
Katie Porter
Administrative Assistant, Government and Corporate Relations
kporter@advocis.ca
Tel: 1-800-563-5822, Ext. 9860
Andrew Kimber
Associate Director, Government Relations
akimber@advocis.ca
Tel: 1-800-563-5822, Ext 9817