Description: There has been considerable protest over the current federal government’s proposal to close tax loopholes for private corporations. Small business owners and professionals have been using various forms of ‘income sprinkling’ to lower their tax burden. One Liberal MP, Wayne Long, has broken ranks with his government colleagues, expressing his concern about the impact of the planned reforms on entrepreneurs. Meanwhile Michael Wolfson of the University of Ottawa maintains his research indicates the impact of the changes will be minimal.
Date: September 14, 2017
1) Do you know any entrepreneurs or professionals who have been discussing how these pending tax changes will impact them? What have they been saying about the matter?
2) Which argument do you find the most convincing, that of Professor Wilson or that of Mr. Long?
3) MP Wayne Long has taken the unusual step of publicly disagreeing with his own government. What might be some of the implications for his political career?