Bill

Given the proposed changes to the taxation of private corporations as outlined in the Minister of Finance's paper “Tax Planning Using Private Corporations” will have a drastic negative impact on small and medium sized local businesses, the House call on the government to continue, until January 31, 2018, its consultations on these measures

First reading.

Vote

Nay.

Rationale

Continuing these consultations for a longer period could exacerbate the current air of uncertainty for small business owners. The current due date allows our Government to deliver a framework for the new system to allow business owners time to plan for any changes ahead.

Result

Defeated.