Senate completes Eastern Canada leg of study of Income Tax Act
Source: Senate of Canada
Ottawa – The Senate Committee on National Finance has completed the third and final stage of its study of the federal government’s proposed changes to the Income Tax Act.
The committee has held 29 public hearings from coast to coast and heard from over 130 witnesses.
Doctors, dentists, farmers, lawyers, union representatives, witnesses from the fishing industry and other small business owners brought concerns and comments over the proposed changes to the act to members of the committee during four days of consultations in Eastern Canada.
From Monday, November 20 to Thursday, November 23, the committee listened to Canadians in St. John’s, N.L., Halifax, N.S. and Saint John, N.B.
Many people expressed concern that existing difficulties attracting professionals, like physicians, to Eastern Canada would be compounded by the proposed restrictions on income sharing and passive income.