Minister Morneau Discusses Tax Fairness With Standing Committee on Finance

News Release

September 28, 2017 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada is committed to changing a tax system where wealthy and high income individuals can use their corporations to pay lower rates of taxation than hard-working middle class Canadians, and is listening to small business owners, professionals and experts to ensure a fair approach. 

Finance Minister Bill Morneau met today with members of the House of Commons Standing Committee on Finance about the Government's ongoing consultations on tax advantages involving Canadian-controlled private corporations. Minister Morneau encouraged a fact-based discussion on the Government's proposals and on the importance of levelling the playing field for the middle class by keeping high income and wealthy individuals from using private corporations to pay lower tax rates than middle class Canadians earning much less per year.

The Government is ensuring that the hard work of small business owners is rewarded by maintaining the lowest small business tax rate in the G7. With a combined general corporate tax rate that is 12 percentage points lower than our largest trading partner, the United States, the Government is helping businesses small and large to expand and create jobs. These rates are designed to help Canadian businesses create middle class jobs, invest in their community and grow—and the Government wants to make sure they are being used fairly.

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Media may contact:

Chloé Luciani-Girouard 
Press Secretary
Office of the Minister of Finance
613-369-5699 / 613-462-5469

Media Relations
Department of Finance Canada

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