Government scraps plan to restrict conversion of income into capital gains.
The Trudeau government continues their desperate surrender on their widely-hated tax changes. The government has announced that they will scrap their plan to impose restrictions on the conversion of income into capital gains. The policy was massively opposed by many, including family farmers, as it would have made it far tougher to transfer the business to the next generation.
The reversal comes after the government said they would also cut back on tougher policies on passive investment income.
Canadians get results fighting back against Trudeau’s tax attack
Everybody knows that the Trudeau government never intended to make any changes to their terrible tax policies. Trudeau and Moneybags wanted to ram the changes through quickly, before anyone realized what was happening. Of course, that’s not how it happened. Canadians fought back, as the Conservatives (and even the NDP to some extent) helped bring attention to the tax changes in Parliament, groups like the Canadian Taxpayers Federation spread the word, and Canadian citizens involved in small business took to social media to stop the attack.
As a result, many Liberal MPs started to panic, and the government has been forced to somewhat surrender to public opinion. With that said, we need to keep the pressure on the Trudeau government. Until their tax surrender is actually written in stone, there’s no reason to believe what they say. Additionally, they may attempt to sneak some of these unpopular measures through other pieces of legislation or government action. Canadians must not let our guard down. We must also remember that avoiding all of this trouble to push the government away from terrible policy will be much easier if we defeat Trudeau in 2019.
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