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Tax Changes and NursingOn July 18, 2017, the Canadian federal Finance Minister, Bill Morneau, announced the release of a consultation paper and draft legislation which, if enacted, will have a dramatic impact on the taxation of Canadian private corporations and business structures that Canadian entrepreneurs have had in place for decades. An announcement was expected, as the federal government had indicated in its 2017 Budget that proposals would be put forward to address perceived inequities in the Canadian corporate tax system. However, the scope of the proposals went beyond the expectations of most tax professionals and will affect most Canadian business owners who carry on business through a private corporation.
ARNBC has not taken a position on these tax changes, but recognizes that there are numerous nurses who wish to have their voices heard on this issue (those in favour and those opposed). In addition, the CNA has issued a statement on behalf of nurses, and there has been some disappointment expressed that a response ‘on behalf of nursing’ was issued without any consultation with nurses. For more information on the discussion, view the CNA Statement/FAQs and for the counter-discussion, the CMA message from the President. The media has also covered this discussion extensively should you wish to read more by googling ‘canada federal tax changes’
- CNA Statement Supporting Tax Changes
- CNA FAQs on Tax Changes
- Message from CMA President on Proposed Tax Changes