Kamloops MP calls federal tax changes ‘slap in the face’ to small business
KAMLOOPS — Kamloops-Thompson-Cariboo Conservative MP Cathy McLeod is no fan of the federal government’s proposed changes to small business taxes in this country.
The proposed change aims to put the brakes to “income sprinkling,” a tax loophole which allows business owners to give money to family members who earn less money so they can be taxed less. The federal government is in the midst of a 75-day consultation period with Canadians across the country to discuss the matter.
“It’s not just my reaction that is important, but it’s the reaction of small businesses from across this riding and across this country,” she says. “This particular move by the federal government will have enormous unintended consequences. It is a real slap in the face for hard working businesses. I mean the government has basically called them tax cheats, that they’re abusing loopholes.”
McLeod says those “unintended consequences” include making Canada a less attractive place to recruit doctors.