CALGARY, Alberta — The Western Equipment Dealers Assn. (WEDA) has joined a growing number of business groups stating opposition to the Canadian government's proposed tax changes that were announced on July 18, 2017.
"The proposals put forward by the Federal Government, while intended to target the wealthy, will hurt middle class business owners from every sector of the economy. We have heard loud and clear from our equipment dealer members that these proposed tax changes will significantly harm our businesses,” stated Wally Butler, president of the WEDA.
If implemented, the proposals will restrict business owners from sharing income with family members; limit certain forms of saving in the business, making the firm more vulnerable in bad economic times and less able to innovate and grow; and change capital gains rules which could make it more difficult for business owners to transfer their business to the next generation.
The changes proposed to the business tax system is the largest seen in decades. It is understandable that the Federal Government will from time to time take the initiative to examine the fairness and appropriateness of the current business tax structure in Canada. However, the proposed changes do not take into consideration the potential damage to Canadian entrepreneurial spirit and does not recognize the considerable personal risk business owners take in starting or expanding their businesses.
“We understand that the Federal Government will be reviewing feedback on their proposals at an upcoming cabinet meeting in early September. We ask that the Federal Government seriously take the concerns of our members and other business groups into consideration and not proceed with these proposed changes,” added Butler.
For more information on this proposed change in Canada’s business tax, please click here.
About Western Equipment Dealers Assn.
WEDA represents approximately 2,000 farm, industrial and outdoor power equipment dealers in all Canadian provinces with the exception of Quebec – as well as nine states in the U.S. – Alaska, Idaho, Kansas, Missouri, New Mexico, Oklahoma, Oregon, Texas and Washington. WEDA also represents 1,250 U.S. hardware retailers in the same U.S. states plus Arkansas, Louisiana and Nebraska. As the largest equipment dealer association in North America and the largest regional trade association of its kind in North America, WEDA offers members a comprehensive array of dealer-oriented legislative, educational and communications services, ranging from lobbying to legal, accounting and marketing support. WEDA also provides products and services that include industry and manufacturer relations, as well as industry information and intelligence. The association’s many programs are either available only to members or provided at a reduced cost for members. Visit https://westerneda.com for more information.