August 16, 2017

Liberal tax plan hammers Alberta family farms

Sheila Gunn ReidRebel Commentator
 

The Liberals proposed changes to corporate taxes are going to hammer one in 4 family farms in Alberta.

The Liberals say they're trying to close loopholes used by rich people to income sprinkle - that’s the practice hiring family members who don’t do actual work or naming shareholders to a company who haven't invested to bring the tax bill down.

A few weeks ago, I told you that the Liberals out of touch plan wouldn’t stop any rich tax dodgers, but would instead hurt your plumber, electrician, mechanic, farmers and anyone who cuts their teeth working in the family business or who will be taking over the family business from mom and dad.

And now the National Post is catching on. They are now reporting on the post harvest tax grab the Liberals are planning for the one in 4 farms in Canada - over 43,000- that are structured as family farm corporations. The Ontario Department of Agriculture even encourages farmers to incorporate once they reach 75 thousand dollars in annual income. This means farmers are not the rich tax cheats the Liberals are looking for but rather people who are often cash poor and land rich

Farmers and business owners routinely name their children as shareholders to plan for the day they can retire and leave the business to the kids - it’s part of the normal estate and succession planning. It’s what normal people who worry about the future and where their money comes from have to do. Often times children work for free, informally, to become a shareholder. But the Liberals say their tax plans will include a yet to be determined “reasonable test” to distinguish what amounts to actual work or investment in a family business.

Finance Minister Bill Morneau thinks he can tell who is good son or daughter working for your parents and who is evil rich money grubbing tax cheat.

After Alberta's carbon tax makes all their farming inputs more expensive and chases away their off the farm jobs, the Liberals are going to put one in 4 Canadian farmers through the taxation combine.

Comments
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commented 2017-08-18 12:50:39 -0400
TERRY MACLEOD commented 2 hours ago
Summer fallow could be making a comeback.

I couldn’t tell if you meant that literally, or figuratively…
If you were using it as a metaphor, I didn’t get it…maybe the thick wildfire smoke I’ve been breathing daily since early July, here in the BC interior, is affecting the oxygen supply to my brain…
According to the link below, and their explanation, the practice has fallen out of use, interesting article anyway:
http://esask.uregina.ca/entry/summerfallow.html
commented 2017-08-18 10:43:59 -0400
Summer fallow could be making a comeback.
commented 2017-08-18 10:40:04 -0400
Thieves all. I won’t invest, I won’t take any risk, I won’t sweat or bleed, in fact I won’t assist in any way but I will take your money. It belongs to the collective.
commented 2017-08-17 11:51:23 -0400
If you’re concerned about the plight of small farms, try something like raising minimum thresholds on personal income, not the tax situation of after-tax profits of incorporated activities.
commented 2017-08-16 18:16:35 -0400
LMAO! This is rich coming from the libs and people who push the private sector to be bloated and have people hired to do sweet f*ck all.
commented 2017-08-16 18:16:31 -0400
Ayna come on put your spin on it . Like projected growth and are you stupid can’t you read . Tell me that family farms are not businesses . Who the hell are you and do you work for the CBC or the Liberals ?
commented 2017-08-16 17:10:20 -0400
I have never seen two gov’t parties reach into people’s pockets to grab more money than the NDP & the Liberals. Both parties don’t know & don’t want to tow the line on spending & with both parties scaring away billion dollar projects because of their climate change dimentia, the revenues are dwindling, so instead of coming to their senses, they resort to get their fix from small businesses & farmers, who have no choice, but to cough up more so the higher ups in Alberta & Ottawa can spend more.
commented 2017-08-16 15:03:24 -0400
As the dippers and liebranoes put the squeeze on natural resources , to do away with them , the people will be taxed more and more
commented 2017-08-16 14:59:43 -0400
Anti Private Sector / Anti Private Sector Wealth Morons 💔💔💔💔💔💔💔
commented 2017-08-16 14:45:08 -0400
Liberals in power with a PM from QUE. WHAT DO YOU EXPECT????
commented 2017-08-16 14:41:14 -0400
THE END IS NEAR!

I ain’t kiddin’, and I ain’t nuts…how much longer can they escalate this insanity before it all blows up in their faces?
It’s the end of life as we have known it, and it’s already well in hand…and more’s the pity.
commented 2017-08-16 14:29:58 -0400
Oh well, nothing will change till the trans-Canada and downtown Edmonton are plugged for a week or two with tractors.