Over 21,000 Canadians Petition to Slow Down the Pr
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OTTAWA, Sept. 29, 2017 (GLOBE NEWSWIRE) -- Video Tax News issues the following statement: Today, a petition supported by 21,456 people was delivered to the Honourable Bill Morneau, Minister of Finance, in relation to the Consultation on Tax Planning using Private Corporations (launched July 18, 2017). The petition asks for an extended consultation period, a special report on the consultation submissions, and for resulting laws to be effective no earlier than the point the legislation is passed.
The full petition and hundreds of comments can be found at https://www.change.org/p/honourable-minister-...on-7-18-17
Quotes: Joseph Devaney, CPA CA, Director of Video Tax News, Petition Organizer
“As the consultation period comes to a close, one thing has become clear: much more clarity is needed.”
“I believe there are two components to the debate. 1) What is fair? 2) Do the proposals achieve the goal appropriately? Both steps require more well-rounded, respectful, and insightful commentary.”
“At this point, the complexity and breadth of the legislation is still being processed by the brightest Canadian tax minds; incongruencies and unintended consequences are being found at a high and continuing rate.”
“More time and opportunity is needed for not just the tax specialists, but all Canadians, to absorb, understand, and constructively comment. More time and opportunity is required to clear up the abundant claims by all sides of misinformation. This is too big a deal to rush.”
“I ask that that this consultation, those directly affected, and the citizens of Canada, be given the opportunity to more fully work together in the hope of achieving good legislation that both improves overall fairness, and encourages small business.”
For a further listing of organizations and individuals commenting on the consultation process, see videotax.com/tax_proposals
Joseph Devaney CPA, CA Video Tax News
About Video Tax News Video Tax News is a family business that has been providing tax information to accounting and financial professionals for over 30 years.
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