Huron-Bruce MP Asking For More Time For Tax ConsultationsOctober 10, 2017 4:01am
Huron-Bruce MP Ben Lobb says the tax changes being proposed by the federal Liberals will benefit the wealthiest people in the country and do little for the middle class.
Lobb says the proposed changes will particularly hit small business owners and farmers. They also come at a time when farmers in Huron-Bruce are in the middle of harvest, and tourism operators are just wrapping up their busy season.
He says the Conservatives, as well as over 40 business associations in the country, have asked the Liberals to extend the consultation period until January.
“The way taxation will occur inside their business, the way the net income and retained earnings will be dealt with inside the business and most importantly for farm families, the way the transition of those farms occur inside the corporation as the generations move forward,” says Lobb.
The Liberals will now review five key areas of the legislation to consider changes, but they don’t believe there is any need for further consultation.