Don’t let the shrill voices prevail. Contact the Finance Minister
University of Ottawa Economics Professor Michael Wolfson has studied equity issues his whole career and much of the current policy discourse is due to his research. His recent posting at the Evidence Network asks, “Should the loudest voices prevail on proposed tax reform?” It looks like the Federal government has not played its politics very well and Finance Minister Morneau looks like he is going make some compromises. Some are needed, like not taxing the selling of a farm to a family member higher than if selling to a stranger. And, there will need to be a transition for professionals, like doctors, who planned their financial future on the basis of legal (albeit unfair) tax savings. But it looks like Mr. Mourneau will cave on allowing more Canadian Controlled Private Corporations to grow savings when their purpose is investment for retirement versus investment in the company. Let the Finance Minister’s office know you support the tax changes and that tax reform should be extended to capital gains, stock options, and family trusts like the ones he and the Prime Minister have.