Earlier this week, the Federal Government announced it will reconsider a series of proposed tax reforms.

Finance Minister, Bill Morneau, decided against plans to limit the lifetime capital gains exemption, and options to convert income to capital gains. They also announced simplifying the reasonableness test, and a minimum threshold on the taxation of passive investment income.

But, Foothills M.P., and Associate Agriculture Critic, John Barlow, says he still doesn't trust them.

"They said from the beginning, that when they're making these tax changes it's not going to impact small business, it's not going to impact farms, this is just a bunch of rhetoric that the Conservatives are bringing forward. Now, they've admitted they were wrong."

Barlow says, this is a significant step down from their earlier proposal, but he's still skeptical.

"While they are going out calling Canadian small business owners, farmers, and ranchers tax cheats, they have been very cognisant of making sure they protect their own family fortune."

barlow mar19 2017Foothills M.P., and Associate Agriculture Critic, John Barlow.

Bill Morneau has shares in a company he owns, which is a business he regulates as the Finance Minister. Morneau has made $30 million in dividends, which he doesn't have to pay any additional taxes on, Barlow says.

"The real key issue here is the hypocrisy of the Liberal Government. They can't be trusted when it comes to the tax changes, and the fact that the family fortunes, and the trust funds of the Prime Minister, and Bill Morneau the Finance Minister, are untouched, I just think that's wrong."

Moving forward, the Conservatives will continue to talk to Canadians about concerns they have raised.

"The Liberal's had legislation drafted on this, so they cannot say that this was all part of the plan, and that they've heard from Canadians and adjusted this. They had pen on paper, legislation ready to go on this. The strong opposition raised by the Conservative members, forced them to admit to Canadians they were being disingenuous on the impact these tax changes would have."

Barlow says, the only thing to do is abandon these tax changes entirely.


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