Trudeau says tax changes aimed at ensuring wealthy Canadians pay fair share Finance Minister Bill Morneau said the changes would lessen what's called "income sprinkling," which allows business owners to distribute money to family members who earn less, allowing income to be taxed at a lower rate. But Krista Ross argued the latest proposal is unfair to small business, whose employees are the "backbone to the economy." "It's not fair to small business owners, it's simply not fair really, to the people of this country," she said. Ross said the mechanisms government has provided for businesses to manage their finances are not loopholes but laws that have been in place since the 1970s. She said this would also have an impact on succession planning, adding 20 per cent more tax if a small business owner were to sell the business to a family member or at arm's length. "How is that fair?" Most families are trying to find a family member to groom or take over or purchase the business from them," she said. "Who better to trust, who better to mentor?" 'People are so scared in thinking, 'Why would I want to run a small business, when we're basically going to be taxed out of existence?'' She said investment income would also be taxed at 70 per cent. "Small business owners don't have maternity leave, unemployment insurance, health plans, so they put money away and save it," she said. "Basically, they're telling you take all your money out of your business and then if you have a problem what are you going to do?" Both Morneau and Prime Minister Justin Trudeau have said the proposal would grow the middle class and those who want to join it, she said. Prime Minister Justin Trudeau defends proposal for Liberal tax plan for small businesses. (Darryl Dyck/Canadian Press) "Small business owners, they are the middle class," Ross said. "Not only are they the middle class, they employ the middle class." During the consultation phase, Premier Brian Gallant said the provincial government has been passing many concerns, comments and suggestions on to the federal government on the proposed tax reform. "That's one of the best things we can do," Gallant said.
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