‘Business owners aren’t crooks,’ says Kamloops Chamber president
KAMLOOPS — Months after federal Finance Minister Bill Morneau introduced proposed changes to small business tax, the reaction in Kamloops and across the country has been overwhelmingly against.
Small businesses are reeling at the thought of a new tax policy that could come into effect as early as January. They are fighting what they call an “insult” by the Liberal government.
“Them calling these policies tax loopholes. I can tell you they’re not loopholes. They’re tax policies. Business owners are not crooks. They are not going through a loophole to make more money,” said Paul Ross, partner at Emsland Insurance and president of the Kamloops Chamber of Commerce.
Finance Minister Bill Morneau argues that certain small businesses are using their corporate status to pay less of their fair share of taxes. While the changes target the wealthy, small business owners — some of whom just getting by — will be greatly impacted.