Thank you, Minister.
When small businesses set aside money within their company in anticipation of their need for sick leave, for a rainy day, or for retirement, they already pay a tax rate of between 50% and 55% on the resulting passive income. You've said that's not enough. You want to raise the rate by taxing that money a second time when the owner takes the money out. In fact, the rate they pay is the same as shareholders ultimately pay in a larger public company that trades on the stock market. You say this is about fairness, that everyone should be treated equally. Fairness is a relative term. By comparison, what rate of taxation did you pay when you sold your $30 million of shares in Morneau Shepell?