Here is what some local business people are saying about the impact the proposed changes could have on their operations:

“With 75 percent of all physicians across Nova Scotia being incorporated, I am very concerned that these proposed tax changes will impact patient care, with dramatic consequences for patient access, and physician recruitment and retention in the province.” – Dr. Manoj Vohra, President of Doctors Nova Scotia

“For almost 50 years, we have reinvested the Market’s earnings into new products, offerings, attractions and local jobs. This is how we have managed to grow along with our community, attract and maintain new visitors and employees. We expect the proposed tax changes will have the impact of deteriorating our ability to contribute to the growth of our local economy, by slowing or freezing the number of new jobs and opportunities we can create through reinvestment in our business.” – Laurie Jennings, Owner, Masstown Market

“Increasing my professional tax load stifles my ability to grow my business, and create more jobs. If this government was really concerned about doing the right thing, they would take their time and review the entire tax system, instead of narrowly targeting the sector who create jobs and stimulate the economy.” – Stephanie Jones – McDonalds Owner/ Operator

Take Action Now!

Small business is the backbone of many Canadian communities accounting for 98 per cent of all businesses in the nation. Our businesses employ citizens; and our businesses support local initiatives, everything from sports teams to fundraising drives. They fund recreational, cultural and social programs within their communities. Proposed tax changes being considered by the federal government are the most significant tax changes we have seen in 45 years and will directly hurt business.

In July, Federal finance minister Bill Morneau announced plans to the tax system proposing to close what he deems “loop holes” and address planning strategies.

The proposed changes are an attack on the viability of all businesses and will punish legitimate businesses. Small business encompasses your retail and service sector, but also comprises your family physicians, local farmers, and day care operators among others. Restrictions proposed on income

sprinkling to family members, passive investments and converting income into capital gains will adversely affect the profitability of small business.

These tax changes will affect all private business owners, regardless of their level of income, size of business or conformity with fiscal rules. Many – if not most – business owners will end up paying higher overall tax in the future if these proposals go ahead, sometimes even paying higher rates of taxation than other Canadians at the same income level. This has been confirmed by accounting professionals across Canada.

Efforts to have meaningful dialogue with government on the dire effects of the proposed changes have been unsympathetic.

The window of opportunity to provide feedback through the consultation period is closing. The time to act is now before the Oct. 2, 2017 deadline.

The businesses of Truro and Colchester ask for your assistance in lobbying government to rethink their proposal and engage business in further dialogue to identify meaningful, workable solutions.

Take Action:

Contact your MP and urge the government to put these changes on hold to avoid hurting thousands of small businesses across the country and to have a broader, thoughtful discussion regarding the measures needed to stop those who use their businesses to avoid paying taxes.

Cumberland-Colchester MP Bill Casey, House of Commons Ottawa, ON K1A 0A6 or Truro Office 40 Inglis Place Truro, NS B2N 4B4

Email- [email protected]

Phone number – 902.895.2863

Visit the Chamber website to: 1. Download a form letter to sign and send to MP Bill Casey;

CLICK HERE to download a letter to MP Bill Casey  

2. access a link to a national petition, – Click here 

3. Learn how these changes could impact your business;Click Here

4. Access a porthole to share your story with the Chamber network. Click Here

Representing more than 400 members of the business community

Your Voice for Business in Truro and Colchester for 127 years

895-6328   [email protected]