HAC Welcomes Announcement on Tax Fairness Measures
The Hotel Association of Canada welcomed the announcement today by Small Business and Tourism Minister Bardish Chagger and Finance Minister Bill Morneau on further tax fairness measures. In a series of announcements this week, the association is encouraged to see that the government is listening and taking steps in the right direction, including simplifying proposed measures related to income sprinkling, protecting all past investments and the income earned from those investments, providing more flexibility to hold savings for multiple purposes, and maintaining incentives to allow for the continued investment in the next generation of innovators and entrepreneurs. HAC is especially pleased to see that the government is retracting proposed measures in order to protect intergenerational transfers of family businesses, an important element for many of our family-run hotels. We look forward to seeing more details and continuing to work with the government to ensure that a plan is in place that is fair, but that does not also hinder the ability of small hotel businesses to grow.