The Canadian Trucking Alliance (CTA) is cautioning the federal government against its announced policy intentions to close certain tax-planning measures for private corporations in the tax code.
“While CTA understands the proposed changes are meant to affect a certain target audience – some of whom could unfairly be avoiding paying their fair share – CTA is concerned there could also be some small-business owners who will be significantly worse off as a result,” said Stephen Laskowski, president Canadian Trucking Alliance.
CTA’s letter to the federal finance minister outlines three key areas in the trucking industry that will be negatively impacted by the proposals outlined in the government’s consultation paper, including: accumulation of capital, family business succession and competition with US operators.
“At a time when companies are struggling to compete internationally and to keep pace with regulatory changes across virtually all federal departments, we urge the Department of Finance not to introduce any measure that adds unnecessary complexity to the Canadian tax system,” added Laskowski.
In speaking with federal finance officials, CTA has been told that Ottawa is listening to the concerns of Canadians on this issue. Consequently, CTA is strongly urging its membership to participate in an e-letter campaign to raise awareness in Ottawa of our industry’s concerns. To participate in the bi-lingual campaign, please click the following for French & English.