The Truth About Trudeau’s Tax Hikes: A 59% Tax Rate On Some Canadian Farm Families?
How can the government justify taking so much money out of the pockets of those who keep Canadians fed?
WINNIPEG, MB – Under the tax changes being pushed by the Trudeau government, farmers could face a massive tax bill on the sale of farmland that’s held in a family farm corporation.
The tax would also increase massively on the sale of dairy quota.
As a result of Trudeau’s tax changes, the combination of the corporate and personal tax on such a sale will be 59%.
This would punish smaller farms, and farm families. This is a direct disincentive for family farmers, and could speed the consolidation of farms among big companies.
It’s quite possible that the Trudeau government wants that to happen, which represents an unacceptable attack on the Canadian family farms that feed our nation.
The last thing we should be doing is making life more expensive for farmers, yet that’s exactly the direction the Trudeau government is heading in.
That is a big mistake.
Spencer Fernando, MyToba News