Mr. Speaker, I thank my hon. colleague for the question. We know that the small business tax rate is there to help companies grow and create jobs, but we need to make sure that the small business tax system is fair and being used appropriately. The loophole is allowing far too many people to use this rate to get out of paying personal income taxes that the rest of us pay each and every year. This loophole is costing taxpayers over $500 million a year. We need to fix the problem so that those using the small business tax rate are the small business owners who are creating jobs for our communities.
In the House of Commons on May 3rd, 2016. See this statement in context.