Standardbred Canada is strongly encouraging its members and industry participants to take action to fight for tax fairness for the Canadian agriculture industry.
Over the past year, Standardbred Canada has worked extensively with the Canadian Federation of Agriculture to ensure tax fairness, related to Section 31 of the Income Tax Act.
After a favourable ruling from the Supreme Court of Canada in 2012, the 2013 Federal Budget threatens to deal a serious blow to participants in the horse racing industry, and the entire agriculture industry.
We encourage members to read the following letter, and make your voices heard.
It is vital that you share personal stories, and reinforce the need for government to support rural Canadians through fair and equitable tax laws. In particular, farmers facing difficulties relating to restricted farm losses should contact their members of parliament and ensure that they are aware of the impact that broadened restrictions will have on the sector as a whole.
To have your say, email your comments to Finance Canada at [email protected] no later than October 15th.
To find contact information for your Member of Parliament, click here. MPs should also be contacted as soon as possible, as these proposals will be debated in the fall house session.
This is just another "hit"
This is just another "hit" against rural Canadians. We are treated as second class citizens when in fact we feed the overall population in this country. If the gov't wants to limit the amount of farming losses one can claim, then there should be the same limit on profits that are taxable as well. I wonder how this would be perceived by the gov't treasury.