The Liberal tax hike on local businesses
Trudeau’s local business tax hikes have arrived.
The new Liberal budget announced that thousands of local businesses will no longer qualify for the small business tax rate, or will see the benefit reduced.
The Liberals are withdrawing eligibility for the small business tax rate for those companies with investment income greater than $50K. Once investment income reaches $150K, the business would no longer be eligible for the small business tax rate.
Small business were already dealing with having to plan for the massive new carbon tax coming, and the Liberal increase to CPP and EI premiums, but now, the personal income taxes for job-creating entrepreneurs are over 53%.
While Canadians were enjoying the summer months, the Liberals tried to sneak through a massive new tax hike that would hurt every single local business in the country.
Despite the Liberal efforts to do this quietly, Canadians noticed. And they’re not happy.
Millions of Canadians have spoken out and signed petitions. Tax experts, economists, and thousands of small business owners have condemned their plan! And rightfully so.
This is just another Liberal tax grab designed to make Canadians pay for the government’s out-of-control spending habits and legacy of deficits.
The Liberals need to stop nickel and diming Canadians.
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