October 18, 2017
Liberals Hit the Reset Button for new passive income rules, draft legislation opens the door for more positive changes, says CATA
Ottawa, ON…CATAAlliance, Canada’s One Voice for innovation lobby group, gave a thumbs up to the beginning of the positive changes by the federal government to proposed passive income rules.
The revised proposal, announced today by Finance Minister Bill Morneau allows a threshold of $50,000 of passive income investment annually to be sheltered. This provision will be grandfathered, thus protecting accumulated passive investments, including any growth of that investment.
CATA CEO, John Reid said, “ Passive income does have a key role to play for business owners who need to save for investments, retirement or sick leave. It serves as an important buffer and safeguard for riding out difficult times.
He added, “ Draft tax legislation will be introduced in early 2018, allowing our community to fully understand how this change will be implemented, and we are prepared to offer constructive guidance in a much improved consultation environment.”
CATA appeared before the Standing Senate Committee on National Finance yesterday to outline concerns expressed by Canada’s innovation community.
- New tax legislation would penalize entrepreneurs, stifle innovation, CATA says
- CATA helps lead coalition for tax policies supportive of entrepreneurship and innovation
- Ottawa entrepreneurs will suffer under proposed tax changes, tech advocacy group says
- Are SR&ED tax changes another punch in the teeth for Canada’s tech sector
- Employee versus Entrepreneur – Fair comparison
- Myths and Fact Sheet
- Innovation Leaders Speak Out on proposed tax changes: Ed Bryant, CEO, Sampford Advisors
- Innovation Leaders Speak Out on proposed tax changes: Paul Labarge, Co-Founder & Partner, Labarge Weinstein
- Innovation Leaders Speak Out on proposed tax changes: Michael Horne, Co-Founder, Meldrum Horne & Associates
- Expert Panel Discussion on the impact of federal tax changes: CATA advocacy
- Innovation Leaders Speak Out on proposed tax changes: Michel Coderre, Tax Lawyer & Innovation Advocate
- Innovation Leaders Speak Out on proposed tax changes: Garron Helman, CEO, Venbridge
- Innovation Leaders Speak Out on proposed tax changes: Donald Page, President, Glister Limited
- Ottawa’s CATA calls for ‘reset button’ on feds’ business policies (Ottawa Business Journal)
- Innovation Leaders Speak Out on proposed tax changes: Peter Schwartz, Founder & Executive Chairman at Kognitiv
- Trudeau Liberals Still Don’t Get It, So Canadians Get an Unfair Tax System, says Innovation Lobby regarding proposed new government tax legislation
- Federal Liberals to unveil tax plan adjustments, a positive reset says CATA
- Canadian tech CEO predicts updates to tax plans will be well received: CATA Comments, Globe & Mail
- Presentation to the Senate Committee, National Finance
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The Canadian Advanced Technology Alliance (CATAAlliance) is Canada’s One Voice for Innovation Lobby Group, and is crowdsourcing ideas and guidance from thousands of opt in members in moderated social networks in Canada and key global markets. (No Tech Firm Left Behind)
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Contact: CATAAlliance CEO, John Reid at email email@example.com, tel: 613-699-8209, website: www.cata.ca, tags: Innovation. Leadership, Entrepreneurship, Advocacy