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Sat, Dec 21, 2024
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| The CBCC Opposes to the Tax Reforms
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Our member survey suggests that CBCC members strongly oppose the federal government's tax proposals announced in July 2017 that would dramatically change the way incorporated small businesses are taxed in Canada.
The CBCC takes the position that the tax changes would have profound negative impacts on Chinese business community in Canada, Canada-China trade and Canadian economy in general, as they would send a wrong message to the business world that Canada no longer encourages entrepreneurship and innovation.
The CBCC believes that it is the small business and the middle class, not just the wealthy, that would be hurt by the tax changes.
One of the characteristics the Chinese community is that the hard-working small business owners form the main part of the middle class of the community and our livelihood relies more on family businesses. So the negative impacts of the unfair tax reforms on the community would be significant.
Therefore the CBCC will be actively involved in the process of opposing the tax proposal.
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