Wednesday, November 22, 2017

#TaxLoopholesMyFoot --The coalition's letter urges Morneau to postpone the income-sprinkling proposal until Jan. 1, 2019, provide more clarity on how it will work and, at minimum, consider making spouses exempt. Members are concerned that the change is supposed to come into effect at the beginning of January 2018, which is only weeks away, Kelly said.-----


Best to understand the future folks. Government in debt will seek revenue from citizens--such as small business owners.
Meanwhile we have big business folks happily shielding their profits via the stock option loophole that neither the Conservatives or the Liberals have touched.
Ditto for the tax havens.
Why?
I guess the rich are different than us.
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I doubt that any more changes will be made by Team Trudeau with reference to the changes in the taxation of small businesses.
What's more important than the changes that will go through is the understanding of small business owners that we are going to be cash cows for government.
At all levels, governments are running deficits.
Where are the governments going to get cash?
From small business owners.

Instead of fighting the changes which will go through, we should simply reduce our work hours and earnings. We should reduce our taxable income. We should save our emergency funds in our TFSAs.
We should understand that the federal government is willing to change the rules for us but not for the big business folks who get to keep their stock option loophole and tax havens.

It's one set of rules for ordinary business owners and another set of rules for the big business folks.

But there you go.

Just change your business practices folks and ask the Liberals to go close the stock option loophole.








#TaxLoopholesMyFoot--I think Mr. Morneau has done enough in terms of chaning the tax reform of small businesses. What he now needs to do is to address the stock options loophole and tax havens. It's time to go for bigger game.
In other words, I believe that small businesses will sooner or later become tax revenue sources for the federal government so there is no point in saving your emergency fund there.
It's best to consider your small business as vulnerable and plan accordingly.
Nope. We should forget about changing Mr. Morneau's mind about the changes that the federal government will gradually introduce with reference to small business owners. What we now should demand of the federal Liberals is that they do to the big business folks what they have just done to the small business folks--which is extracting more revenue.
Why should we have the stock option loophole and tax haven junk? It's time for real tax fairness Mr. Morneau.
I'm of the opinion, you can't tax one group's "loopholes" without taxing the other groups as well.

A coalition of industry associations says Bill Morneau must make more changes to the controversial tax proposals he first unveiled last summer to ensure he…
CBC.CA

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http://www.cbc.ca/news/politics/coalition-for-small-business-tax-fairness-1.4413675

Morneau's tax proposals still need work despite changes, critics insist

The Coalition for Small Business Tax Fairness came together to oppose the tax-reform plan

By Andy Blatchford, The Canadian Press Posted: Nov 22, 2017 9:18 AM ET Last Updated: Nov 22, 2017 9:18 AM ET

The Senate Committee on National Finance hears from Finance Minister Bill Morneau during a meeting on Parliament Hill in Ottawa on November 1, 2017.

The Senate Committee on National Finance hears from Finance Minister Bill Morneau during a meeting on Parliament Hill in Ottawa on November 1, 2017. (Sean Kilpatrick/Canadian Press)

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A coalition of industry associations says Bill Morneau must make more changes to the controversial tax proposals he first unveiled last summer to ensure he addresses deep, persistent concerns in the small-business community.

The group, which came together in recent months as a vocal opponent of the finance minister's tax-reform plan, is urging him to go further — beyond the adjustments he made to calm an uproar that dogged him for months.

The message was delivered to Morneau on Monday as part of the coalition's first official response since the government announced several amendments last month.

"While we thank you for making progress ... we remain very concerned by the remaining proposals that appear to be moving ahead," said a letter sent to Morneau's office from the Coalition for Small Business Tax Fairness, which represents about 80 associations.

The changes to Morneau's plan followed an onslaught of complaints from doctors, lawyers, accountants, shop owners, farmers, premiers and even some Liberal backbenchers. They denounced the proposals, contending they would hurt the very middle class the Trudeau government claimed to be trying to help.

Prime Minister Justin Trudeau and Morneau argued the reforms were designed to ensure they targeted wealthy individuals who have used the incorporation of small businesses to gain what the government maintained was an unfair tax advantage.

Coalition says changes not far enough

But following a consultation period, Morneau took steps last month to quiet the backlash by tweaking two of the three proposals and abandoning the third one altogether.

Amid the outrage, the government also announced it would resurrect a 2015 campaign promise to cut taxes for small businesses. Trudeau promised to gradually trim the small-business tax rate to nine per cent by 2019, down from its current level of 10.5 per cent.

The coalition acknowledged the progress but, after digesting and assessing the adjustments, it insisted the government has yet to go far enough.

"I'd say the level of alarm is still very high with respect to the package of changes as a whole," said Dan Kelly, a coalition member and president of the Canadian Federation of Independent Business.

"I think that this is still very, very tender. ... The business community has really only pressed pause here, it certainly hasn't warmed up to the overall package."

Morneau ditched one of the proposals last month related to converting income into capital gains. The change, he said at the time, came in response to concerns the measure could have negative tax implications for small businesses following a death and create challenges for owners who hoped to pass their family businesses to the next generation.

The government also announced it would move ahead with its proposal to limit the ability of owners of private corporations from unfairly lowering their personal income taxes by sprinkling their earnings to family members who do not contribute to their companies.

'We are always open to input and ideas'

However, the Liberals vowed to simplify the proposal, which is set to come into effect Jan. 1, in response to concerns about its complexity. It also removed an element that would have limited access to the lifetime capital gains exemption as a way to avoid negative impacts on the intergenerational transfer of family businesses, like farms.

Morneau also scaled back what some believe is the most-contentious piece of the tax-reform plan — its proposal on passive-investment income. The change, the government says, will create a threshold of $50,000 on passive income per year to ensure only three per cent of the most wealthy private corporations will have to pay higher taxes.

The coalition's letter urges Morneau to postpone the income-sprinkling proposal until Jan. 1, 2019, provide more clarity on how it will work and, at minimum, consider making spouses exempt. Members are concerned that the change is supposed to come into effect at the beginning of January 2018, which is only weeks away, Kelly said.

He added that the coalition also wants the government to abandon the passive-income proposal.

The letter also argues that the $50,000 annual income threshold is too low and would prevent small businesses from making investments to help them grow. It also insists business owners would be stuck with added costs from the additional red tape.

The government plans to release draft legislation on the passive-income change in the lead up to next year's budget.

Daniel Lauzon, a spokesman for Morneau, wrote in an email that the public and parliamentarians will still get an opportunity to comment on detailed proposals before they are legislated, even though the formal consultation period has ended.

He said the government has already acted on some of the recommendations.

"From the beginning we said we would listen in order to get this right," Lauzon wrote in response to questions about the coalition's letter.


"We are always open to input and ideas, and I think we've shown our willingness to listen carefully, and to act on what we hear. What we won't do is move away from our core objective of ensuring the middle class is treated fairly."









Susan Macaulay shared a link. 1 hr The threat of eviction and being denied access are two of the biggest threats LTCFs use against "complainers" / advocates.

https://www.facebook.com/groups/ReportElderNeglectAndAbuse/?multi_permalinks=1473205512756513%2C1473078496102548%2C1472840306126367%2C1472735642803500%2C1472252696185128&notif_id=1511292535444990&notif_t=group_activity
Susan Macaulay shared a link.
The threat of eviction and being denied access are two of the biggest threats LTCFs use against "complainers" / advocates.
Across Minnesota, families who take complaints to the state Department of Health encounter dead ends and delays. Yet when they take their complaints directly to the management of their care homes, many find themselves facing retaliation.
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Julie Ali My sister got evicted. Usually they don't say evicted in public but in the medical notes. In public they usually say stuff like they can't meet the higher needs of the resident although two seconds before they evict they were perfectly capable of meeting the needs of the resident. It's retribution and it happens in Alberta. Usually they call an ambulance and transfer to the emergency of their buddy hospital. Hospitals know of this junk. Most families don't. It's very bad for residents as it destabilizes them. They are stuck in a hospital bed. If no other facility wants to accept them and cannot be persuaded to accept them then the resident goes to an alternate level of care arrangement which has been clearly explained to us in the book "The Unravelling". It sounds horrendous. https://www.theglobeandmail.com/.../calg.../article36019788/ You give readers a vivid sense of how frustrating it was to deal with certain health-care authorities. But why were you so cautious about not letting your anger and resentment show?

Regardless of how irksome or frustrating you may find things, you cannot make the situation worse for those in care. And it's possible for that to happen. If you go to a long-term care facility, you can see people are stretched very thin. They're understaffed, they're often overwhelmed. And if you are the problem, it may be reflected in the way your parent is dealt with.

I've seen that with my brother, too. Because there is no clear protocol about family caregiving, often, you're seen as an extra. You want to be sure you maintain whatever ability you have to be a positive influence. Otherwise, you can create problems for the patient, or you can simply be cut out of the loop.
The memoir, told through text by Clem Martini and…
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