The recent announcement from the federal government regarding impending tax amendments has caused some uproar from the small business community across Canada, who would largely be affected by the changes.
As a result, the Estevan Chamber of Commerce hosted a luncheon on Wednesday with a talk from representatives of the tax division of MNP to discuss the matter, and a large contingent of locals came out for the presentation.
"The turnout was absolutely tremendous," stated Executive Director Jackie Wall, "We had over 70 people in attendance, and the information was invaluable."
"There's still a lot of questions, and there's still a lot of ambiguity about what's exactly going to come down from the federal government. You can see that people are concerned, and they want to know what it's potentially going to do and how to prepare for that."
She noted that there is a lot of local buzz on the situation.
"There's consideration on whether to move money somewhere else, taking a look at different tax planning for the 2017 year and looking into 2018. The fortunate thing is that we have experts in our community that are able to help people with that, and MNP always provides outstanding information. They stay on top of everything that's coming down as far as taxation."
Wall encouraged small businesses to speak to their accountants. Once the legislation is finalized, she said that they would look at doing something in 2018 to get people up to date through another general information session, when they know exactly what things will look like.
"Some of it you pretty much know is going to take effect, but there are still a lot of details to be determined."