Too Much Tax – Too Little Income – Not Much Time

We need governments that value fiscal restraint

From federal to provincial to municipal, we need to be able to rely on government to provide social infrastructure so that businesses and farm producers can remain sustainable and can reliably get their goods to market. However, the escalating costs ranging from income taxes, gas taxes, carbon taxes, provincial taxes, property taxes, sales taxes, fees and other government charges now account for over 50 per cent of income going to these various levels of governments, making it extremely difficult for today’s farm and/or small business owner to prosper.

These growing costs are not sustainable. When red tape and bureaucracy is added to the mix, it’s little wonder that many farms and small business are struggling. Earning and keeping money has never been more difficult than it is today.

The carbon tax on farmers is just one example of a tax that is having a punitive effect on agri-business owners. As taxation, or “revenue generation” as the government fondly refers to it, continues to expand, farm and small business owners need trusted partners they can count on to look after their best interests.

Fortunately, the Canadian Federation of Independent Business (CFIB) has been tackling tax and regulatory issues in Alberta along these lines for over 45 years. CFIB has over 10,000 members in Alberta alone. CFIB’s Director of Provincial Affairs Amber Ruddy will be a guest speaker at FBC’s first annual mid-summer farm/business event in Millet, Wednesday, July 25 at Millet’s community hall from 9:30 to 2 p.m. CFIB is the voice of Alberta business owners and farmers.

FBC, Canada’s Farm & Small Business Tax Specialist™, has helped farm and small business owners with tax planning, tax preparation, bookkeeping and financial planning for 65 years. Their goal for their nearly 20,000 members is to “make life less taxing”. CFIB and FBC are considered the go-to organizations for lobbying and expert planning and tax advice; in other words, in your corner, fighting hard for you.

Farmers and small business owners share one thing in common: A need for lower taxes that can create more capital to invest in their businesses; sound and cost-effective tax, succession, retirement, and estate planning strategies; and membership organizations that represents their members’ best interests when it comes to government regulations and taxes.

Part of CFIB’s presentation will include “Tangled in Red Tape – Tracking your regulatory red tape” and what to do about it. FBC’s portion of the event will include “Tax Tips” to help farm and business enterprises reduce their taxes to help them conserve capital while putting more money in their pockets.

FBC and CFIB’s farm and business tax planning event will be held in Millet on Wednesday, July 25 at the community hall with registration confirmations starting at 9:45. Pre-registration is required with only limited seats available. This event is free with lunch included. RSVP by July 20 by emailing jcloutier@fbc.ca or calling 780-229-0328. Audience questions and participation will be encouraged.

Submitted by Dave Horner, Business Development Representative for FBC

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