Bruce Croxon: Tax plan hurts investors in small businesses
A group of prominent Canadian entrepreneurs have inked a letter to Justin Trudeau, urging the Prime Minister to hold more extensive consultations over Ottawa’s proposed tax changes. In an interview on BNN, Bruce Croxon, co-founder of Round 13 Capital and co-host of the Disruptors, said that in his thirty years as an entrepreneur, he’s never before felt the need to criticize Canada’s tax regime, but this short consultation period is a bridge too far.
“Don’t introduce something so jarring to the small business community in particular, in the dead of summer with a 75-day consultation period and try and push something through… under some false marketing,” he said. “This is a radical shift to how many of us have been doing business for the last thirty years, and that’s what’s fundamentally unfair.”
Croxon said there’s clearly a disconnect between Parliament Hill and Canadian entrepreneurs, given their disparate experiences in the business world.
“I don’t think they fundamentally understand how difficult it is; Ninety per cent of small- and medium-sized businesses struggle day-to-day in this country. It’s a grind. It’s really, really hard,” he said. “You can tell people how hard it is, but unless you’ve experienced it, which the policymakers by-and-large have not, you don’t understand.”