Action alert: Ask your MP to rethink tax proposals

Image reads Ask your MP to rethink upcoming tax changesThe federal government announced on July 18, 2017, a series of transformative tax proposals that may have a severe negative impact on family farm corporations, particularly for multi-generational farms. As the most significant tax changes in recent years, these proposals will spell uncertainty for all family farm corporations.  CFA is working with agricultural stakeholders and the broader business community to explore the plans laid out by Finance Canada in ‘Tax Planning Using Private Corporations’ — and it’s clear that further study and technical analysis is required.

View CFA’s news release on the upcoming tax changes.

 


Learn about about potential impacts to your farm


CFA calls for new approach to ensure proper consultation

The October 2nd deadline for the 75-day consultation period falls in the middle of harvest season. This doesn’t allow enough time for farmers to participate in a fulsome review and discussion around such transformative changes. In fact, the proposals are so dense and highly technical that even tax specialists are still parsing through them, trying to define the scope of their ramifications. Some changes come into immediate effect, and some will lead to retroactive expenses, threatening major consequences for family farms in Canada.

CFA staff are working to ensure farmers’ voices are heard on this matter, but we need your help! This requires a country-wide grassroots effort. Add your voice to our call for Finance Canada to take a step back and hold a more comprehensive consultation before finalizing any tax changes.

Contact your MP right now!

While MPs are back in their ridings, farmers and ranchers have a great opportunity to reach out and be heard. CFA urges you to request a meeting with your local MP or to attend a local event held by your MP to voice your opinions. Make your views known as soon as possible, in order to catch attention as parliamentarians prepare for the Fall session. Visit this link and enter your postal code to find your local MP’s contact info.

Tell your MP that these tax proposals require further study. A 75-day consultation in the middle of summer is not enough!

Include the following points in your letter or conversation.

Further materials outlining the impacts of these changes will be made available in the coming days, so check back for more information.

Don’t forget to sign the petition!

CFA also encourages members to sign this petition requesting an extension to consultations on these proposed changes.

For more information, contact Scott Ross, CFA’s Director of Business Risk Management and Farm Policy, at 613-236-3633 ext. 2324.