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Opinion: Why insurance advisors should care about small biz tax proposals

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Jack Morris

I agree with above. The proposed legislation says it wants the tax environment to be more fair. Is it fair that business owners take all the risks? Is it fair that during difficult times that business owners take a cut in pay while employees don’t? There are many other unfair differences between employees and business. If these tax changes take place, this will have a serious detrimental effect on the economy.

Wednesday, Sep 13, 2017 at 11:00 am Reply

Adam Sharpe

Wish I were as confident that the July 18, 2017 proposals do not seem to impact corporate-owned life insurance plans or insurance strategies … what about proposed subsection 246.1(1), (2) and (3)? Insurance advisors should definitely care about these proposals.

Wednesday, Sep 13, 2017 at 2:34 am Reply

Webster Webb

When I see comments suggesting that these changes will discourage people from going into business I realize it is no longer a reasoned assessment. Yes planning will be needed to help adjust for closing the loopholes, but it does not mean the loopholes are valid. I agree with the Govt on this issue, that creating more fairness between salaried professionals and incorporated professionals is overdue.

Tuesday, Sep 12, 2017 at 11:55 am Reply

Thomas Golberg

I agree that these proposals are ill-conceived and do nothing to further advance small business. On the contrary they are a deterrent to entrepreneurship and will encourage an increase in ‘black market’ activity.

Tuesday, Sep 12, 2017 at 11:55 am Reply