With duelling Liberal and Conservative caucus retreats underway this week, the government’s proposed tax changes are quickly taking centre stage as each party tries to frame the debate. The Conservatives are describing it as a debilitating punishment on small business owners and everyone else who gets tax advantages by owning a private corporation. The Liberals, meanwhile, argue it will only affect the wealthy who are using the corporations to avoid paying their fair share of income tax. “If you’re making $150,000 a year or less, you can max out your RRSPs, you can use the tax-free savings account,” Trudeau told radio station AM1150. “You tell me what’s fair about a landscaper who can’t hire more workers when these tax changes come into effect because his tax burden’s too heavy,” he said.

Source: National Post September 07, 2017 19:06 UTC