The Prince George Chamber of Commerce has joined Canadian Chamber members in passing a resolution opposing the proposed federal tax changes for incorporated businesses.
The local Chamber recently attended the 2017 Canadian Chamber AGM in Fredericton, New Brunswick in September where the resolution entitled, "Stop the Harmful Tax Changes on Private Corporations" was presented.
As a result, the Prince George chamber joined forces with the national chamber to advocate to the federal government on behalf of its members.
"The Prince George chamber knows this proposed tax change will significantly impact some of our members and Prince George's economy as a whole," says Erica Ewacha, Prince George Chamber CEO.
"Small business really is the backbone of our economy so we're adding our voice to the broader chamber movement against these changes."
The Prince George Chamber included its vote to support the resolution and signed a petition opposing the tax changes which was circulated at the conference.
The petition is also being circulated online.
"We want everyone to sign. Our goal is 1,000 signatures," Ewacha said. "We are also encouraging local businesses to write to their local MP's.
"This will be an 'on the ground' fight and this is the strongest way to hear our Canadian businesses."
The Prince George Chamber co-sponsored two policy resolutions written with the support of local members; "Port and Major Airport Share Capitalization" and the "B.C. Provincial Nominee Program: Supporting the Labour Needs of Today and Tomorrow."
Both resolutions were approved with amendments and will be part of the Canadian Chamber's advocacy agenda.
Proposed federal tax changes are said to impact incorporated businesses with larger tax bills and higher compliance costs.
When investing profits from your business, the government is proposing to tax that income at an effective rate of 70 per cent.
And if you wish to pass on your business to your children, the new rules will make it difficult for them to receive capital gains with the risk of being double taxed.
"We encourage all our members and all businesses that are affected by these proposed changes to write to the federal government and describe how this will impact your business and livelihood," said Prince George chamber president, Corey Naphtali.
For more information and to find a link to the petition, visit www.chamber.ca.
The Prince George Chamber of Commerce currently represents 715 members, businesses, organizations and individuals.
