Hon. Alice Wong, P.C.

On May 3, 2016, Alice Wong asked a question in the House of Commons on the topic of Taxation.

The following is a transcript:

Hon. Alice Wong (Richmond Centre, CPC):
Mr. Speaker, we know the Liberals love to talk about facts, so let us look at some facts. Their decision to abandon tax cuts for small businesses will cost the industry $2.2 billion over the next four years. I repeat: $2.2 billion. The more we learn about the Liberals’ so-called commitment for small businesses, the more we realize that there is no commitment at all.

When will the Liberals deliver their promised 9% tax cuts?

Ms. Gudie Hutchings (Parliamentary Secretary for Small Business and Tourism, Lib.):
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.

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