CPA profession response to proposed federal tax changes

CPA profession response to proposed federal tax changes

With the Government of Canada currently in the process of receiving comments, concerns and views on their proposed tax changes, CPA Alberta wants to ensure its members are fully informed on the issue, ways to have their voices heard, and the profession’s response to the issue.

Because these proposed tax changes are coming from the Federal level, this matter is being handled on the behalf of our profession by our national organization, CPA Canada. Among other activities, CPA Canada is currently preparing an in-depth submission they will send to the Federal Government on behalf of the profession, which outlines several key points questioning the effects of the proposed tax changes on several fronts. The response will stress the need for fairness, sustainable economic growth, simplicity and efficiency.You can provide input to that submission by sending your questions, comments, or concerns to CPA Canada, by emailing governmentconsultations@cpacanada.ca.

With the interest of the public always in mind, CPA Canada has already undertaken two actions:

1: Views and concerns have been brought forth to the attention of the Finance Minister’s Office

2: A call to the Federal Government to extend the consultation period to ensure all of the concerns raised can be thoroughly researched and analyzed, and the potential impacts on Canadian businesses and individuals can be properly identified and estimated.

You can find more details about CPA Canada’s approach and actions on their website, here.

You can also send your thoughts and concerns to the federal government directly. Information on how you can complete that process is available on the Government of Canada website.  The deadline for submissions to Finance Canada in response to these proposed tax changes is currently October 2.

The proposed Federal tax changes are part of Budget 2017. The full Government document titled ‘Tax Planning Using Private Corporations’ can be read here.

Those in the Calgary area may also be interested in attending an event hosted by the University of Calgary’s School of Public Policy. “Taxing Small Corporations: Increasing Fairness or Undermining Growth” is an expert discussion on these changes and their impacts on business owners and the economy. The event is being held September 14 at the University of Calgary Downtown Campus. More details are available here.

2 comments

  • The CPA needs to take an active and vocal role in opposing these tax proposals. The Canadian Medical Association is doing an exceptional job in showing their opposition through social media, news media, etc. As leading experts in tax, business planning, corporate structures, etc. we should be front and center and make it clear to Canadians that we do not support what the Government is doing.

  • Lawyers complicate simplicity. Governments do the same and are REDICULOUS in wasting taxpayers’ money. Auditors general have reported on said waste yet meaningful change seemingly never happens. Family income splitting should be VIGOROUSLY defended. Simplicity is a virtue, wasting taxpayers’ money is not!

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