There has been much to say regarding the Federal Government's plan to change the tax rules surrounding small businesses. But how will these changes affect businesses in Southeast Saskatchewan?
"This could potentially have a huge impact on Estevan businesses," explained Jackie Wall, Executive Director for the Estevan Chamber of Commerce. "Obviously the Federal Government hasn't come down with their exact changes yet and they're now saying that there's going to be some additional changes."
"They've been receiving a lot of negative feedback so I imagine that is part of those changes that may be coming across. But if things go through like they are right now, it's going to hit any small business, anyone who farms, the small independent businesses as far as retail, the oil sector. It'll affect the professionals as far as doctors and lawyers so this has a huge, huge impact for businesses in Estevan."
She points out that farming as succession planning for farming, and paying the family that is helping out on the farm will come into question as well as investments.
The Estevan Chamber is working with other chambers across the province to provide feedback.
"I know our Canadian Chamber has been working with the government and they've had Minister Morneau at the table, speaking about this."
She mentioned that MNP will be hosting a luncheon on Wednesday, October 4, to discuss these proposed changes.
"They will be presenting exactly how these changes could impact people's businesses so it's a very, very important topic."
"We also have been providing our members with links to different feedback venues as far as letter they can send, or petitions they can sign."
She goes on to say that the full affects aren't known yet.
"It's a very complex subject. There are several different areas that it will affect. There hasn't, I think, been a lot of foresight in how this is going to impact businesses. I already know that businesses throughout Canada are moving their money abroad in preparation for these changes. And it's really going to hit Canadians very hard across the board."
"Small business is one of the biggest employers in Canada and anything that affects a small business, affects the population as a whole."
"We do have links on our social media and we are providing that to our members through our email blasts as well so that they can get more information. But the best information will be at the MNP luncheon on Wednesday."
Wed, Apr 17, 7:00 PM
Full-time, Agriculture, Skilled Trades
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