South Okanagan West Kootenay MP has big concerns about tax changes
The South Okanagan West Kootenay MP would like to see a tax loophole closed for wealthy CEO's rather than the proposed changes to federal tax laws for small businesses.
Richard Cannings says the Liberals claim that many small business owners are using methods like passive investments in their companies and sharing profits with members of their family, as a way to avoid paying their fair share of taxes.
Business owners, lawyers and doctors across the country have risen up in anger over the proposal.
He says small business owners rightly point out that their financial situations are very different from salaried employees.
They don’t have pensions, sick leave, parental leave and other benefits and are often taking big risks for little profit for long periods of time while growing their companies.
He says when they return to Ottawa next week, his caucus will continue to press the government to make sure that they won't bring in measures that will unfairly hit most small business owners, two-thirds of whom make less than $70,000 per year.