Mr. Kelly, let me give you an example of a couple who have owned a bakery and they've been working there for 30 years. They pay themselves dividends of $50,000 a year, each one. One of them starts slowing down the work that she does because they're aging and they've just reduced their number of hours. Suddenly, that could trigger a higher tax rate because the labour contribution has declined. If the family had invested in a registered retirement income fund, a RRIF, that wouldn't have happened. We understand that's not the intention of these proposals but there are real impacts for businesses.
On September 20th, 2017. See this statement in context.