Finance Minister Chrystia Freeland did not attend a committee meeting to address why the government tried to delay new tax legislation that would give more generous tax treatment to small businesses
Finance Minister Chrystia Freeland, shown at a social housing funding announcement in Vancouver last week, was invited by the finance committee to answer questions about Bill C-208.Canada’s Finance Minister did not attend a committee meeting to address why the government tried to delay new tax legislation even after she was asked to do so by members.
On June 29, Bill C-208 received royal assent, which is when legislation usually comes into effect. The next day, however, the Finance Department issued a news release saying that the changes wouldn’t take effect until Jan. 1. Mr. Kelly said in an interview that committee members have not had an adequate explanation for the changes and confusion, nor an explanation for why “this government would think that it could just pick and choose not to implement a law passed by Parliament.”Bill C-208 allows owners of small and medium-sized businesses to sell shares to adult children or grandchildren and claim the proceeds as capital gains instead of dividend payments.
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