Benjamin Bergen, president of the Council of Canadian Innovators (CCI), said the capital gains tax has overshadowed parts of the federal budget that the business community would otherwise be excited about.
The CCI has written and is circulating an open letter signed by more than 150 people in the Canadian business community to Trudeau’s government asking it to scrap the tax change.
The government said it was proposing the tax change to make life more affordable for younger generations and fund efforts to boost housing supply — and that it would support productivity growth.
He said the rejigged tax is also an affront to high-skilled workers from low-innovation sectors who might have taken the risk of joining a startup for the opportunity, even taking a lower wage on the chance that a firm’s stock options grow in value.
But Lindsay Tedds, an associate economics professor at Carleton University, said the tax change is one of the most misunderstood parts of the federal budget — and that its impact on the country’s talent has been overstated.
While Asaria said Canada needs to continue encouraging talent to take risks and build companies in the country, taxation policies aren’t the most major problem.
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Benjamin Bergen, president of the Council of Canadian Innovators (CCI), said the capital gains tax has overshadowed parts of the federal budget that the business community would otherwise be excited about.
The CCI has written and is circulating an open letter signed by more than 150 people in the Canadian business community to Trudeau’s government asking it to scrap the tax change.
The government said it was proposing the tax change to make life more affordable for younger generations and fund efforts to boost housing supply — and that it would support productivity growth.
He said the rejigged tax is also an affront to high-skilled workers from low-innovation sectors who might have taken the risk of joining a startup for the opportunity, even taking a lower wage on the chance that a firm’s stock options grow in value.
But Lindsay Tedds, an associate economics professor at Carleton University, said the tax change is one of the most misunderstood parts of the federal budget — and that its impact on the country’s talent has been overstated.
While Asaria said Canada needs to continue encouraging talent to take risks and build companies in the country, taxation policies aren’t the most major problem.
The original article contains 1,067 words, the summary contains 197 words. Saved 82%. I’m a bot and I’m open source!