The federal government is closing consultations Monday Oct. 2, for its proposal to close certain tax-planning measures for private corporations in the tax code – making it the last day for carriers to make their voices heard against the plan.
Consequently, the Ontario Trucking Association and Canadian Trucking Alliance are strongly urging its membership to participate in an e-letter campaign to raise awareness in Ottawa of our industry’s concerns. To participate in the bi-lingual campaign, please click the following for French & English.
The Canadian Trucking Alliance (CTA) is cautioning the federal government against its announced policy intentions to close certain tax-planning measures for private corporations in the tax code.
While CTA understands Ottawa’s intentions may be to target some businesses that are unfairly avoiding paying their fair share of taxes, CTA is concerned that many carriers, especially small businesses, will be negatively impacted as well, namely in areas relating to accumulation of capital, family business succession and competition with US operators.
“At a time when companies are struggling to compete internationally and to keep pace with regulatory changes across virtually all federal departments, we urge the Department of Finance not to introduce any measure that adds unnecessary complexity to the Canadian tax system,” said CTA president Stephen Laskowski.