Finance committee  Thank you for the question. The transition of a business from one generation to the next is something that's very near and dear to our hearts at MNP, because we deal with owner-managed businesses quite frequently. This is one of the things they struggle with all the time. How do

Finance committee  Yes.

Finance committee  We do. We have anecdotal evidence from clients of money leaving the country. We also have anecdotal evidence of foreign investment not coming in. We've had clients who have left. I've had clients in my office who've said every option is on the table: “Are we going to stay in Ca

Finance committee  That's a two-part question. The first was about the reduction, or was it that less tax was collected although the rates went up?

Finance committee  It's probably too early to tell what the long-term ramifications were, but one thing that did happen.... I live in Alberta and we had a compounding effect. We had a 5% increase provincially, and we had a 4% increase federally, but our dividend rates also went up 11%. What we did

Finance committee  We haven't considered whether there was a threshold built into that. As for what would be qualifying, we think that it's any kind of equipment that is, let's say, tangible. It's property that you can see and touch, whether it's for manufacturing, whether it's for farming or wheth

Finance committee  I don't think it should be phased in. I think in the budget there should be an announcement that, as of a certain date, equipment purchases from then on would be 100% accelerated CCA for a period of time until we get the economy back on its feet. The Americans put a timeline on

Finance committee  We're going to check the notes.

Finance committee  That's a good question. I think that whenever we have any kind of trade agreement that encourages Canadian businesses to be able to export abroad, that's always a great thing. It helps a lot of the export businesses. We see a lot of our clients in oil field services, agriculture

Finance committee  For your first question, whether we see our clients considering moving, and/or moving to the United States, we absolutely do. There is a cumulative effect of a lot of changes over the last five years, let's say, that have made it harder to compete in Canada. Some of those are reg

Finance committee  Tax should be certain, predictable and fair. We've had a cumulative effect of layering complexity on top of complexity on top of complexity for a number of years. Many small business owners and their advisers are not able to even comprehend what these new tax changes are, let alo

Finance committee  For the accelerated CCA, we believe strongly that this would be an important consideration for government at this point in time. It would allow Canadian businesses to replace their property. It would allow them to increase their efficiencies. It would allow them to remain competi

Finance committee  It would be a concern for many of the businesses, because they probably are not aware of how this will impact them. I would agree with that. There are a lot of small and medium-sized enterprises that do not know how these TOSI rules will apply to them and whether or not they are

Finance committee  That will depend on the province that each business is in, but they start to lose the small business deduction at $50,000 of passive income. It's lost completely by the time they get to $150,000. They are losing it on a $5 for every $1 of passive income ratio. The difference fro

Finance committee  We would see that as well. It is a costly endeavour to go to court, and it is a costly endeavour to have the advisers to help somebody through this. There's probably a large number of businesses that won't even have the advice in the first place on what to do, so—