New tax rules will affect small businesses, including designers and their clients.
On July 18, 2017, Liberal Finance Minister Bill Morneau presented proposed tax changes relating to private corporations.
Several Members, who run design businesses, have raised concerns about how proposed tax changes would impact them and their clients. RGD Past-President Lionel Gadoury RGD had this to say, “For many designers, finances and especially taxes are anathema to design. However, if we don’t take an interest and speak out against these proposed tax changes, the studios, agencies and countless small- to mid-size business clients we rely on will take a punishing hit. Let's do our part and take a stand – let the Minister of Finance know that the proposed rules could crush our ability to succeed, invest and support our families and communities.”
You can read a summary of the proposed changes, prepared by Ryan Morris of RGD’s Legal Partner WeirFoulds LLP, here: weirfoulds.com/Tax-Proposals-to-Impact-Private-Corporations
“RGD advocates on behalf of, and with the support of, our Members to ensure the voice of the professional graphic design community is heard by business, government and the general public. Together we can ensure business and government adopt best practices that will help our industry, and our country, to flourish. We thank the Members who brought this (and other issues) to our attention and encourage all Members to get involved on issues that matter to you,” offered RGD President Stussy Tschudin RGD.
In this case, as Canadian professionals and taxpayers, professional designers need to work together to prevent an even greater tax burden on Canadian small and mid-size businesses by speaking out. RGD encourages designers to raise their concerns with their Members of Parliament (MP). Please participate by emailing the letter downloadable here to your MP and copying Minister Morneau. You can find your MP’s contact information here: ourcommons.ca/Parliamentarians/en/members?view=List