June 15, 2018

Quotes & Videos to Support a 21st Century Tax Commission: CATAAlliance request to Community members

21st Century Tax Commission

Dear Community members,

Could please help us advance CATA advocacy by providing a supportive quote regarding a new Campaign, entitled, “ Call for Creating Canada’s 21st Century Tax Commission: Help CATAAlliance advance this important advocacy!”

Details of the 21st Century Tax Commission Campaign (in draft) are outlined at this URL: http://cata.ca/2018/21st-century-tax-commission/

Your quote ( i.e., a para of 3-4 sentences) would be part of a Community Comments Section, indicative of support for a 21st Century Tax Commission. We have provided some examples below to kickstart your thoughts.  

Much appreciated by the CATA Team,

John Reid, CATA CEO
jreid@cata.ca

Ps Read IT World Canada’s Coverage: CATA wants your help calling for a 21st century tax commission

Community Comments

” Globalization has created a dynamic marketplace where countries compete to attract capital and talent. Canada needs a competitive tax system to encourage investment and innovation in our economy. Since the Carter Commission study in the 1960’s, we’ve seen a significant evolution in the business landscape. Technological progress should only be expected to accelerate using avenues such as the blockchain, artificial intelligence, and automation. A comprehensive tax reform study, can lay the foundation for the next generation and return Canada to the principles of an effective tax system – simple, efficient, and fair.” (Jay Goodis, CEO & Co-Founder of Tax Templates Inc.)

“For Canada to succeed in this ever-changing economic climate, where past long-term relationships are destroyed and old enemies become new market opportunities, we need a tax system that is both fair, while encouraging our entrepreneurs to grow their businesses in Canada and expand our economy.” (Dan Wasserman, Founder, Mammoth Health Innovation)

“As a committed member of CATA’s leadership council, I lend my voice to the Call for Creating Canada’s 21st Century Tax Commission. Every day, I am reminded that Canadian tax policy has emerged in both an incremental and somewhat retrospective way, whereas what we need, what the dramatically-changing nature of Canada’s role in the global economy needs, is … a wholesale reboot and soon. The present system is, to some degree, the legislative baggage of Confederation and does not anticipate the rise of crowdfunding, blockchain and the rise of digital currencies and finance for example.

Three things that could help, in my view, are a fresh understanding of money and the monetary system’s impact on taxation, how we think about and curate innovation with more contemporary fiscal levers and how we align and harmonize the business and corporate taxation spectrum from local to national. CATA is to be commended and supported in this quest for fairness, regional equity and the renewed drive towards an Innovation Nation.” (Gary Stairs, Stellar RHL & First Mobile Education)

“ Canada needs a competitive business environment to attract investment from both Canadian and foreign businesses. This is critical to the growth and success of the Canadian economy which is important to all Canadians. A modern and competitive tax system is an important part of an environment that encourages innovation, investment and growth. Other countries such as the United States have introduced tax reforms to create a more competitive business environment for their economies. Canada needs comprehensive tax reform to both simplify our tax rules, and to create a tax system that encourages investment into our economy, while being fair to all Canadians.” (David Walsh, CPA, CA (ON), CPA (IL), Partner, Tax Service Line Leader, Canada, BDO Canada LLP)

“ A 21st Century Tax Commission is super important for resolving economic  issues, as the economy is going to face a major transformation over the next few decades!  The availability of new products based on new technology will significantly increase the overall productivity while reducing the number of people needed to perform these tasks. Kudos to your team for taking on this for highly important advocacy.” (Eli Fathi, CEO, Mindbridge Ai)

“ Canada enjoys immense potential coming from our technology, innovation and entrepreneurial sectors. I have seen in many countries around the world how taxation policies can help these sectors flourish leading to greater tax revenues. Our government’s job is difficult. Balancing all of the interests and considering global best practices is complex. It is critical that we establish a Tax Commission to find the optimal path forward.” (Peter Aceto, Co-Founder & Co-CEO, eQuoshift, and former President & CEO, Tangerine (Scotiabank)

“ Advancing the development and adoption of tax reforms will spur the growth of innovative firms and boost Canada’s ROI (Return on Investment) on our investments in Research and Development. Having a 21st Century Tax Commission is a path forward to modernization.” ( Russ Roberts, Sr. VP, Tax, Finance & Advocacy, CATAAlliance)

” As the President of the Ottawa and a small business entrepreneur I agree that it is time to look at and update our tax regime to give Canada a fighting chance to compete with the other G7 countries. How can I help the cause? ” (David Stein)

” This is a great initiative. I think we need to take a fundamental look at a system that has evolved through ‘exception-based’ taxation over a long period of time. I believe that we need to go back to fundamentals to determine whether the system is both fair and advances economic goals in an effective manner. As a researcher in the field of science-based innovation and as a CPA – CA, this is a subject near and dear to my heart. I would enjoy an opportunity to volunteer to work with the commission, perhaps even by engaging in research that can address taxation impact questions in the innovation economy.” ( Charles Plant, CPA, researcher, University of Toronto)

“21st Century Tax reform is not only required, but critical as we move to a human capital based economy that also struggles to get access to much needed capital.  Companies that provide services based on human output (i.e. consulting, integration, project management services) have struggled long and hard to get investment capital to grow.  The leadership teams have had to use personal financing alternatives to enable their firms to grow and survive, without the tax benefits being available for these alternate investment alternative.  As more and more innovative solutions involve not products, but services delivered by people, it imperative to change the rules to enable the tax benefits to match!”  (Roberta J. Fox-Lawson, Chair and Chief Innovation Officer, FOX GROUP Technology, and founding and Interim CEO and CTO, Canada Suicide Prevention Services. )

With rapidly advancing technology reshaping the economy and the workforce, a tax regime drafted pre-Internet is not helpful. With the creation of a 21 Century tax Commission, we open the door to flexible new approaches and administrative models that will support a competitive approach for all businesses – and especially smaller businesses that continue to make up the backbone of the Canadian economy. I’m all in for that!”(Fawn M. Annan, President and CMO, ITWC, publisher of ITWorldCanada.com)

” I could not hope to be a louder voice for this initiative! Canada has all the hallmarks of success for future, but, in my opinion sadly lacks a cohesive and collaborative dialogue on measures to build and sustain business success. It starts with taxation. I applaud CATA on its Tax Commission initiative and support it fervently.” (Mark Kealey, President of K&A Inc.)    

” While Canada remains strong in terms of the quality and impact of its scientific output, it is lagging farther and father behind in its ability to commercialize that output and generate wealth…Canada has much to be proud of, with world-class researchers in many domains of knowledge, but the rest of the world is not standing still and Canada will need to take notice as it determines how best to take action.” Council of Canadian Acadamies)

” I am a proud Canadian startup, who is at the brink of releasing the results of the development of our Ultra Cyber Secure computer systems.  A large portion of my business plan is where I need to weigh the balance between what portion of manufacturing is to be done in Canada and what portion to other countries, where labor and tax rates are considerably more favorable. Head office will certainly be located in Canada.

In order to support the North American region of international sales, certain portions of engineering, software development, (manufacturing ?), distribution, support and accounting will most likely be located in Canada.

It would be favorable for Canadian employment statistics if there were favorable tax incentives, which would encourage a larger portion of the manufacturing and support of our Cyber Security products to be located in Canada.

As a proud Canadian, emotionally I very much favor Canada.  As a business person about to step up to the corporate starting gate, I need to make decisions which are best for the corporation.” (Ralph Kachur, President, ROATI Technologies Inc.)

Videos

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Contact: CATAAlliance CEO, John Reid at email jreid@cata.ca, tel: 613-699-8209, website: www.cata.ca, tags: Innovation, Leadership, Entrepreneurship, Advocacy