The proposed tax changes have been withdrawn after a period of intense advocacy from our community. This result reflects the hard work of the three hundred forty-four people who chose to participate in this process. We must remain attentive to future policy discussions to ensure our professional security remains protected.
November 12, 2017
Final supporters
The federal government plans to impose corporation tax changes that would drastically affect how small businesses in Canada are taxed. They intend to shut down three primary corporate tax-planning strategies; which could impact the real estate market and would affect the way REALTORS® handle their business.
The laws would enforce prohibitions on income conversions to capital gains; which could cost REALTORS® valuable business and potentially influence retractions on the real estate market. For example, business owners who usually purchase investment properties as a means of income conversion would be prohibited to do so under the new corporate legislation. As a result, REALTORS® lose business and the market suffers in ripple effect.
In another instance, those REALTORS® and brokers who adopt passive income strategies would become more vulnerable to financial insecurity. This is because the new laws would limit them from reinvesting surplus income into the corporation as pension and benefits savings or as insurance against emergencies and economic downturns.
The new corporate tax rules would also place restrictions on income sprinkling. Business owners like incorporated REALTORS® or brokers would be more restricted from paying salary or wages to immediate family members such as spouses and adult children.
Given the potential impact of these changes on the real estate market and business success the Nova Scotia Association of REALTORS® (NSAR) is petitioning the federal government to put a hold on tabling these law changes. We support independent business owners and small business associations in their demand for more meaningful consultation where the impact of any corporate tax changes on small businesses and industries can be better evaluated, so that the well-being and interests of small business owners can be preserved.
If you are want to protect the market and your business sign the petition and join the movement to say no to new personal corporation tax laws.
Updates
Reached 250 supporters
September 20, 2017
Reached 100 supporters
September 19, 2017
85 Comments
I have been researching incorporation for a few years, I was just about to pull the pin, With the tax savings I was to save, I would I hired an assistant and created a 70% position.
As a Business Owner, I will never collect EI, I have opted out of Pension benefits, I have created upward of 35 jobs and I work a about 90 hours a week to be taxed at an ever increasing rate. Increasing my tax burden and my fellow small business owners is ludicrous - why would we keep doing this.
No one can or should have issues with comprehensive tax reform but this is like hunting a squirrel with an elephant gun! It needs thought or jobs and entrepreneurs will disappear fast!!!
I own a small independent Real Estate Brokerage and these changes would impact my business directly and in a very negative way. You should be supporting small businesses, not making it more difficult for us to survive.
This will kill our industry (Real Estate) and that of other professionals. Our family doctor has already informed us that he will no longer be practicing in Nova Scotia because of these new tax laws. He has shut down his practice.
This is a very short sighted proposal that is going to have a devastating impact on small businesses in Canada.
Making it harder for those just trying to get by! Ridiculous
Share this petition
Share this petition to help it reach more people.
Your share link
The proposed tax changes have been withdrawn after a period of intense advocacy from our community. This result reflects the hard work of the three hundred forty-four people who chose to participate in this process. We must remain attentive to future policy discussions to ensure our professional security remains protected.
November 12, 2017
Final supporters
The federal government plans to impose corporation tax changes that would drastically affect how small businesses in Canada are taxed. They intend to shut down three primary corporate tax-planning strategies; which could impact the real estate market and would affect the way REALTORS® handle their business.
The laws would enforce prohibitions on income conversions to capital gains; which could cost REALTORS® valuable business and potentially influence retractions on the real estate market. For example, business owners who usually purchase investment properties as a means of income conversion would be prohibited to do so under the new corporate legislation. As a result, REALTORS® lose business and the market suffers in ripple effect.
In another instance, those REALTORS® and brokers who adopt passive income strategies would become more vulnerable to financial insecurity. This is because the new laws would limit them from reinvesting surplus income into the corporation as pension and benefits savings or as insurance against emergencies and economic downturns.
The new corporate tax rules would also place restrictions on income sprinkling. Business owners like incorporated REALTORS® or brokers would be more restricted from paying salary or wages to immediate family members such as spouses and adult children.
Given the potential impact of these changes on the real estate market and business success the Nova Scotia Association of REALTORS® (NSAR) is petitioning the federal government to put a hold on tabling these law changes. We support independent business owners and small business associations in their demand for more meaningful consultation where the impact of any corporate tax changes on small businesses and industries can be better evaluated, so that the well-being and interests of small business owners can be preserved.
If you are want to protect the market and your business sign the petition and join the movement to say no to new personal corporation tax laws.
Updates
Reached 250 supporters
September 20, 2017
Reached 100 supporters
September 19, 2017
85 Comments
The Real Estate Market is just now, after three years of flat lining, returning to some sense of normalcy ( not referring to Toronto and Vancouver). REALTORS, investors, and the spin off job influence, do not need another "stall" .
I have been researching incorporation for a few years, I was just about to pull the pin, With the tax savings I was to save, I would I hired an assistant and created a 70% position.
As a Business Owner, I will never collect EI, I have opted out of Pension benefits, I have created upward of 35 jobs and I work a about 90 hours a week to be taxed at an ever increasing rate. Increasing my tax burden and my fellow small business owners is ludicrous - why would we keep doing this.
No one can or should have issues with comprehensive tax reform but this is like hunting a squirrel with an elephant gun! It needs thought or jobs and entrepreneurs will disappear fast!!!
I own a small independent Real Estate Brokerage and these changes would impact my business directly and in a very negative way. You should be supporting small businesses, not making it more difficult for us to survive.
This will kill our industry (Real Estate) and that of other professionals. Our family doctor has already informed us that he will no longer be practicing in Nova Scotia because of these new tax laws. He has shut down his practice.
This is a very short sighted proposal that is going to have a devastating impact on small businesses in Canada.
Making it harder for those just trying to get by! Ridiculous
Share this petition
Share this petition to help it reach more people.
Your share link
Petitions like this
Other petitions you might want to support
Scan to share
Anyone who scans this can sign the petition.
The Real Estate Market is just now, after three years of flat lining, returning to some sense of normalcy ( not referring to Toronto and Vancouver). REALTORS, investors, and the spin off job influence, do not need another "stall" .