The victims will be the very people this government claims it is trying to help: mom and pop operations in small towns across the country, including farmers, mechanics and electricians
(This column originally appeared on the Toronto Sun)
Finance Minister Bill Morneau recently announced a plan to crack down on “tax planning using private corporations” by closing “loopholes.”
Given the chosen wording, you would be forgiven for assuming these were of interest only to a handful of high powered tax lawyers and accountants. Yet if adopted, these changes would mean a dramatic tax hike for millions of Canadians and impact countless small businesses.
