New tax measures proposed by the federal government have the Portage la Prairie and District Chamber of Commerce urging the small business community to speak up.

In July, the Liberal government launched a 75-day consultation period concerning tax changes, including: reducing “incoming sprinkling” or income splitting between family members, curbing passive investment income and shifting a corporation’s normal income to capital gains.

Chamber president Preston Meier says the changes will create a major strain on entrepreneurs and small business. According to Statistics Canada, small to medium enterprises make up about 55% of the 1.1-million small businesses in the country.

“We believe that our local community and business community is reflective of those numbers,” Meier explains. “It has a large reaching impact to a number of our members and, of course, members of the community.”

“That includes everybody from farmers, agri-producers and family run businesses,” continues Meier. “I want to stress that we need to act as one voice and let the federal government know they need to re-visit these changes for the good of our entrepreneurs ... the government should be encouraging entrepreneurial growth, not stifling it with excess tax burdens.”

The Portage Chamber is calling on the small business community to learn about the looming tax changes and speak up before the government’s consultation period ends.

“If we can get together, send letters to our MP (Candice Bergen) and combine them with all the letters from all the small business owners and chambers across the country, the federal government will get the message they have to re-visit this,” adds Meier. “This is an issue that's going to affect all the incorporated entrepreneurs and professionals around.”

More information about the new tax measures is available here.