Personal Finance

Trudeau going after Personal Services Corps disguised as small businesses

  • Last Updated:
  • Aug 24th, 2018 11:56 am
Sr. Member
Jul 20, 2017
510 posts
111 upvotes
It is Thanksgiving time...
I would like to thank justin and morneau for their attention dedicated to small businesses that are not their own.
I also would like to thank them for granting 2 days of comment period for each billion of federal deficit for the fiscal 2017.
I also would like to thank them for having the discussion period in the quietest period of the political year when the attention of MP's was not distracted by other issues other then cottage life..
I would also would like to thank them for taking time from the important issues of deficits, Quebec refugees, Nafta, pipelines, etc. and spend it with us.
I also would like to thank them for forcing us to read the details of some strategies that we never read before.
I would like to throw them a symbolic verbal pumpkin pie to celebrate...but I can not afford even that...
I hope by next year they will even trust us with the details ....and we all will have trusts
Sr. Member
Jul 20, 2017
510 posts
111 upvotes
Trudeau has found another super-rich target: employee discounts for retail workers....This seems pretty cynical on the day when 12k Sears workers are let go...
It seems they also punished the liberal 2 MP's who voted to extend the consultation period for the small business changes...Now that contradicts his promise of open government...Maybe trudeau should clarify how democracy works in the liberal party...
Banned
Dec 28, 2015
614 posts
239 upvotes
Westmount, QC
Sebastian6300 wrote:
Oct 11th, 2017 1:11 pm
Trudeau has found another super-rich target: employee discounts for retail workers....This seems pretty cynical on the day when 12k Sears workers are let go...
It seems they also punished the liberal 2 MP's who voted to extend the consultation period for the small business changes...Now that contradicts his promise of open government...Maybe trudeau should clarify how democracy works in the liberal party...
This has been the law for decades. It's nothing new

What does Sears closing have to do with this multi decades old law?

It's so my company doesn't just gift me a car and house or vacation in lieu of portion or all of my pay to help me evade taxes

What is your issue with this in particular?
Deal Addict
User avatar
Mar 16, 2010
2387 posts
993 upvotes
Burlington
FinancialFreedom wrote:
Oct 6th, 2017 2:10 pm
As much as I dislike most of Trudeau's policy, Jaggy Singh is a really bad news for the economy. Have you seen his platform?! It's socialism on fire.

NDP at the Federal level has never won in the past, but they have a slight chance; Jaggy Singh will take a few votes but I still maintain that T2 will still be in power for another term. Why? Andy Scheer. Trudeau will mop the floor with Scheer.
Jaggys platform

This website is like an SJW's wet dream. Being an upper class white male is gonna suck if he gets elected.
Sr. Member
Jul 20, 2017
510 posts
111 upvotes
MrWhiteCoffee wrote:
Oct 11th, 2017 1:32 pm
This has been the law for decades. It's nothing new

What does Sears closing have to do with this multi decades old law?

It's so my company doesn't just gift me a car and house or vacation in lieu of portion or all of my pay to help me evade taxes

What is your issue with this in particular?
If it has been the law, it has not been applied, and that is not fair..
How do you determine the actual price of a product? I frequently bargain with stores getting a lower then advertised price...Also the employee discounts are also given to friends and family...so how the heck are you going to deal with that.
As for sears, those poor guys won't have a job at all soon...maybe governments are killing those jobs?
Sr. Member
Jul 20, 2017
510 posts
111 upvotes
A nice quote from the Toronto Sun:
Justin Trudeau is running out of other people’s money, and he signalled to CRA that they should go find more of it for him,” Poilievre said. “He’s raised gas taxes, home heating taxes, beer and wine taxes, payroll taxes, income taxes ... he’s running out of taxes to raise so I think the CRA has decided to get creative.”
Deal Addict
Jan 27, 2015
1021 posts
442 upvotes
Edmonton, AB
Dpack22 wrote:
Oct 11th, 2017 2:10 pm
Jaggys platform

This website is like an SJW's wet dream. Being an upper class white male is gonna suck if he gets elected.
Most of the tax burden falls under upper-middle-class. Truly rich folks are never touched (Morneau, our Finance Minister, shelters taxes by incorporating his company in Alberta even though he lives in Ontario). This is just one example.

All of this tax fairness and anti-poverty is just talk to win more votes. You don't lift poor people out of poverty by giving them a "fair wage" or giving them more money. Giving more money just enables them to demand for more, creating more entitled attitudents.
These politicians are clueless.
Deal Expert
Feb 29, 2008
19576 posts
2154 upvotes
Montreal
Dpack22 wrote:
Oct 11th, 2017 2:10 pm
Jaggys platform

This website is like an SJW's wet dream. Being an upper class white male is gonna suck if he gets elected.
From what I read it's far less harmful to my pocket book than the Morneau plan. A small increase to the SBD rate, a tax bracket introduced at levels that barely touch me, and some business perks I don't care about (box seats and expensive meals).

The worst item is the cap gains inclusion increase, but that's not the end of the world. It's still better than interest income.
Deal Addict
Jan 27, 2015
1021 posts
442 upvotes
Edmonton, AB
mr_raider wrote:
Oct 11th, 2017 9:34 pm
From what I read it's far less harmful to my pocket book than the Morneau plan. A small increase to the SBD rate, a tax bracket introduced at levels that barely touch me, and some business perks I don't care about (box seats and expensive meals).

The worst item is the cap gains inclusion increase, but that's not the end of the world. It's still better than interest income.
Umm.. it starts small and then escalates from there on.

Remember that Trudeau wanted "modest" deficits. Turns out that he will end up putting us MORE in debt than Harper did!
Sr. Member
Jul 20, 2017
510 posts
111 upvotes
FinancialFreedom wrote:
Oct 11th, 2017 10:21 pm
Umm.. it starts small and then escalates from there on.

Remember that Trudeau wanted "modest" deficits. Turns out that he will end up putting us MORE in debt than Harper did!
In trudeau's mind present deficits are modest..just wait what is he capable of...
After all he is the one who coined the phrase:
THE BUDGET WILL BALANCE ITSELF !!!
Nobel committee should be watching..
Deal Addict
Dec 31, 2006
1293 posts
238 upvotes
mr_raider wrote:
Oct 11th, 2017 9:34 pm
From what I read it's far less harmful to my pocket book than the Morneau plan. A small increase to the SBD rate, a tax bracket introduced at levels that barely touch me, and some business perks I don't care about (box seats and expensive meals).

The worst item is the cap gains inclusion increase, but that's not the end of the world. It's still better than interest income.
NDP > Morneau /Trudeau... the world we live in today
I am a friendly Koodo customer and AMEX customer.
Deal Expert
Feb 29, 2008
19576 posts
2154 upvotes
Montreal
T3NSION wrote:
Oct 12th, 2017 10:45 am
NDP > Morneau /Trudeau... the world we live in today
I actually voted NDP last time, since Mulcair was for reducing the SBD rate. We'll see next time arouynd who gets my vote.
Sr. Member
Jan 18, 2014
609 posts
77 upvotes
Rouyn-Noranda
CadArch0 wrote:
Oct 6th, 2017 8:28 am
Once these tax changes go through let see what Mr. Selfie boy and Offshore Morneau are going to do to prevent the brain drain or unemployment!

People who are able to leave will leave, the others who can't will file bankruptcy.

Keep your envy and hate towards the small business owner off the the forum and watch the video:

http://www.bnn.ca/billionaire-seymour-s ... e-1.869864
How are the proposed tax changes going to lead to bankruptcy? Can you give me an example of a business that is currently profitable and that will go bankrupt because of the changes. Be specific.
Deal Expert
Feb 29, 2008
19576 posts
2154 upvotes
Montreal
John47 wrote:
Oct 12th, 2017 12:26 pm
How are the proposed tax changes going to lead to bankruptcy? Can you give me an example of a business that is currently profitable and that will go bankrupt because of the changes. Be specific.
I agree. If their is a cash shortfall, they will either cut staff, cut hours, or raise prices.
Sr. Member
Jan 18, 2014
609 posts
77 upvotes
Rouyn-Noranda
mr_raider wrote:
Oct 11th, 2017 9:34 pm
From what I read it's far less harmful to my pocket book than the Morneau plan. A small increase to the SBD rate, a tax bracket introduced at levels that barely touch me, and some business perks I don't care about (box seats and expensive meals).

The worst item is the cap gains inclusion increase, but that's not the end of the world. It's still better than interest income.
I'd be interested to know in what ways specifically the Morneau tax plan will affect. Would you mind sharing. Thanks.

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