Senate could study small biz tax proposals

If they push through with proposed tax reforms, the feds might face formidable political foes: business owners and incorporated professionals.

Read: How proposed tax changes target income sprinkling

“You are talking about a network of leaders,” pollster Greg Lyle, president of Innovative Research, tells the Hill Times, referring to those affected by the proposal. He adds, “If you anger those people, and they say, ‘I want to get even, I want to get back the way it was before,’ and they decide to do something about it, that means thousands of new volunteers, organizers and fundraisers for the Tories.”

Read: Morneau’s tax measures to hit Ottawa political class: CBC report

For Canadians who do indeed want to do something about it, the clock’s ticking: comments on the proposal must be received by October 2.

The Hill Times reports various responses to the proposal from MPs and senators, including a request for the Senate banking, trade and commerce committee to hold a hearing on the proposal.

If the committee agrees to study the reforms, full Senate approval would be required, though the committee’s chair, Conservative Senator David Tkachuk, tells the Hill Times that it would be rare for the Senate to overrule such a committee decision.

For details on certain representatives’ views of the reforms and where some senators stand on studying the reforms, read the full article.

Also read:

How Finance’s tax proposals will squeeze biz owners