Morneau to lower the small business tax rate

[Hamloc]

I read on the CBC website that Bill Morneau is going to announce a reduction in the small business tax rate this morning to 9%. How did we go from small businesses not paying their fair share to lowering the tax rate? In all the things I read I don't believe anybody complained about the rate, they complained about the changes to such things as how the taxation of passive investments was going to change. If you widen the gap between the small business rate and the top personal rate won't that make the problem worse? Trudeau's government looks more incompetent every day. Just trying to buy our silence.

[foragefarmer]

Hamloc

Your buddy Harper had made this promise of dropping the small business tax from 10.5% to 9% while in power and never delivered on it, and now Trudeau has done it. For all the complaining on Agriville about having to pay to much taxes all of a sudden your concern about the "personal tax rate and the gap between small business" what next. But then again it came from a Liberal it's got to be bad!

Gee I wonder if Harper had delivered on his promise if your post would have ever appeared on this site!

[Hamloc]

Hamloc

Your buddy Harper had made this promise of dropping the small business tax from 10.5% to 9% while in power and never delivered on it, and now Trudeau has done it. For all the complaining on Agriville about having to pay to much taxes all of a sudden your concern about the "personal tax rate and the gap between small business" what next. But then again it came from a Liberal it's got to be bad!

Gee I wonder if Harper had delivered on his promise if your post would have ever appeared on this site!

So explain to me Forage how lowering the small business tax rate fits the Liberal narrative of having small business pay its fair share? My point about the gap between the small business rate and the top personal rate is that the federal Liberal's raises raised the top personal rate by 4% but the change brought in less revenue. They then concluded that this was because high income earning professionals had incorporated to avoid paying so much of the high personal rate. So then they went after small business, pissed everybody off, popularity slides in the polls, all of a sudden lets lower the small business rate because they are the backbone of our economy. Say what you will Justin and friends are doing a lousy job!!

[foragefarmer]

Hamloc

"So then they went after small business, pissed everybody off, popularity slides in the polls, all of a sudden lets lower the small business rate because they are the backbone of our economy. Say what you will Justin and friends are doing a lousy job!! "

Yes this is true , but it looks like they are at least listening and realizing this is a big mistake. Just heard that a Liberal MP has stated that farmers will be happy on this new tax reform. Maybe all this backlash will workout to the benefit small businesses and farmers we'll have to wait and see what happens.

[LEP]

Actually Forage, the small business rate was scheduled to drop in 2016 after the election so it wasn't Harper that didn't follow through.

In my opinion this drop will result is a drop in revenue greater than what they were after with their proposals. Makes absolutely no sense. You can't argue both sides of this one.

Just pure politics.

[bucket]

It's a typical liberal diversion. ...take the eye off the ball .....


They will still be looking for more somewhere somehow.....

[Agvocate]

The liberals cancelled the reduction to 9%, they are now cancelling that cancellation. There is a reason nobody has put a rookie minister in charge of finance before, that said there is a reason no country has elected a part time drama teacher to run a country before either.

[mcfarms]

Actually the cons had approved a reduction to 9 the libs had ran on reducing it to 9 then cancelled the 9 the cons we're bringing in and dropped it to 10.5 . This looks a lot like a spoonful of sugar to make the medicine go down. Then next budget or so corporate gets bumped up but the other changes stay in place. Will wait to read the contents of the amended tax changes to deliver final judgement.

[Oliver88]

It is good news that they are living up to Harper's planned cut and our drama teachers promise to match during federal election campaign.

I'm wondering if this announcement has anything to do with distracting the easily amused media from the details of the changes and the ongoing conflict of interest scandals of Bill Morneau?

[15444]

No Conservative would have a problem with a Liberal tax cut if it wasn't done to shift focus from raping small business in future announcements. It's called being stunningly and embarrassingly full of shit.

[tweety]

So explain to me Forage how lowering the small business tax rate fits the Liberal narrative of having small business pay its fair share? My point about the gap between the small business rate and the top personal rate is that the federal Liberal's raises raised the top personal rate by 4% but the change brought in less revenue. They then concluded that this was because high income earning professionals had incorporated to avoid paying so much of the high personal rate. So then they went after small business, pissed everybody off, popularity slides in the polls, all of a sudden lets lower the small business rate because they are the backbone of our economy. Say what you will Justin and friends are doing a lousy job!!

It wasn't that small business weren't paying their fair share, it was that rich retired farmers were using small business private corps to avoid paying tax, laundering money thru kids etc.

This is good news for those of us not in retirement mode.

[Hamloc]

It wasn't that small business weren't paying their fair share, it was that rich retired farmers were using small business private corps to avoid paying tax, laundering money thru kids etc.

This is good news for those of us not in retirement mode.

So Tweety explain how to me how anything the Liberals are doing is good for Canadians. They raised the top personal income tax rate and brought in less revenue. Then they set out to make changes to the way the small business taxes are applied to make the system more fair and increase revenue by up to $1 billion dollars. Now there latest change I read in the financial post will when fully implemented reduce revenue by $2.9 billion. These guys couldn't hit the target if they were standing on it. I am sure they will make other changes to replace this lost revenue.

[Bowerpower]

well this is good news. I'll take it. Not very often we get a tax decrease. Now as for wher they will try to get the tax revenue shortfall is speculation at this point. We'll lynch trudope and morneau when the time comes.

[seabass]

What about land transfers to farming kids?

[mcfarms]

What about land transfers to farming kids?

Todays announcement was separate from the proposed tax changes hence my waiting on the final look to those before I have a sense of the whole picture. Could be the ol" here have a carrot wabbit "while Yosemite Bill has a big axe in his other hand behind his back move.