Farmers may not be happy with the proposed tax changes coming from the federal government. Photo by JEFF STOKOE/Advocate staff

Petition asks for more time for the proposed taxes from feds

Proposed tax changes will hurt small businesses

Red Deer and District Chamber of Commerce is standing united with other chambers to ask the federal government more consultation time for the proposed tax changes that are coming down the pipeline.

There is a petition going around asking the Liberal government for more time on the proposed tax changes. The petition needs 2,500 — Canada-wide signatures to become valid.

The current deadline imposed by the federal government is Oct. 2 and that’s not enough time, said Robin Bobocel CEO of the Red Deer and District Chamber of Commerce.

“We are raising awareness and calling on the business community to sign the petition to call on the government to extend the consultation process beyond the current deadline,” Bobocel added.

Should the proposed plan be implemented, it will have negative impact on the small business community along with the economy.

The changes will increase corporate tax for small businesses as they won’t be able to employ family members and get the same tax break they currently do.

“[Currently] small business owners employ family members to lower the overall tax burden and with these proposals limit or eliminate the ability to do that so they are eliminating the ability of a business owner to lower his tax exposure,” he explained.

Another change includes limiting the ability to take advantage of capital gains, something that may impact the farming community.

“Currently you can transfer shares from one generation to next with little to no tax implication and what these changes are suggesting is that the federal government is looking at imposing tax on those shares,” he explained.

The Red Deer and District Chamber of Commerce has about 820 members.

The petition is in conjunction with Alberta Chambers of Commerce and the Canadian Chamber of Commerce.

To sign the petition, click here.

Just Posted

Lacombe ready to light the night

The Christmas spirit comes to Lacombe Thursday night with the start of… Continue reading

Opioid prescriptions up across country, but daily doses dispensed down: report

TORONTO — The overall number of prescriptions for opioids has increased over… Continue reading

Notley pleads with political foes, allies to support Alberta pipeline projects

OTTAWA — Alberta Premier Rachel Notley issued warnings to all political parties… Continue reading

Uber isn’t saying how many Canadians were affected by year-old hack

TORONTO — Uber is owning up to a year-old security breach that… Continue reading

N. Korea criticizes US over designation as terror sponsor

SEOUL, Korea, Republic Of — North Korea on Wednesday called U.S. President… Continue reading

VIDEO: Replay Red Deer: Nov. 19

Watch news highlights from the week of Nov. 13

Creationist will speak at home-schooling convention in Red Deer

Ken Ham has debated Bill Nye on the Earth’s origins

Update: Innisfail girl found

A 15-year-old missing Innisfail girl has been located safe and sound. Police… Continue reading

Cost to fix Phoenix pay system to surpass $540 million, auditor general says

The federal government’s chronic salary struggles will take more time and more… Continue reading

Red Deer Christmas Bureau to help 1,300 children this year

Demand is high, but Red Deer always provides

CP Holiday train makes stops in Central Alberta

The popular train will feature entertainment from Colin James and Emma-Lee

Kittens rescued after allegedly being tossed from vehicle

Couple finds abandoned kittens new home through Facebook

VIDEO: ‘Party bus’ goes up in flames in Vancouver

Fire crews responded to the late night blaze

Chicken crosses B.C. road, stops traffic

Rooster makes early morning commuters wait in Maple Ridge

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month