The federal government’s proposed tax changes are expected to create significant financial burdens for small and medium-sized businesses, and has ruffled some local feathers in the Pictou County business community.
In light of this situation, the Pictou County Chamber of Commerce, in conjunction with tax specialists with Grant Thornton, plans to inform everyone who could be potentially affected in the business community about the implications of those potential tax changes.
The chamber and Grant Thornton are hosting a brief presentation on Sept. 21, at Summer Street Industries, New Glasgow. The presentation, in the format of an information session, will be followed by a Q&A session.
The Q&A will serve as an opportunity for those in the local business community to have their perspectives heard, and have specific questions about the potential tax changes answered.
In a press release from the chamber, executive director Jack Kyte was quoted saying,
“The federal proposals, if not amended in a significant way, will be implemented in just a few months. The business community needs to start planning now.”
Everyone in the business community, including incorporated business, professionals – and those with plans to incorporate – are encouraged to attend the event.
The proposed tax changes will affect tax rules that govern income splitting, accumulating wealth and succession planning.
The information session and Q&A will run from 7:30 to 9 a.m. The cost of attending the information session will be $10 – a charge that will cover the cost of breakfast for guests. For more information, or to RSVP, contact the Pictou Chamber of Commerce at 902-755-3463 or at email@example.com.