After weeks of public battering and opposition politicking, Finance Minister Bill Morneau is signalling that he plans to make changes to the Liberal’s proposed tax changes, stopping\u00a0short of providing discernible details.<\/p>\n
On Tuesday the government released a list of five key principles it hopes will reassure Canadians that it is not targeting most small business owners, including\u00a0a promise that the transfer of family farms to the next generation would not be affected by the tax changes.<\/p>\n
“Changes are going to be required \u2014 as we move forward we will have more information on timing,”\u00a0Morneau\u00a0said in an interview after facing questions in the Senate.<\/p>\n
“For those pieces of legislation that we’ve already drafted, we’ll take into account what people have told us to determine how we go forward from here.”<\/p>\n
The Conservative’s finance shadow critic Pierre Poilievre\u00a0called it a “climb down,” and predicts the Liberals will rip up some of the more controversial\u00a0elements of their proposal.<\/p>\n<\/p>\n
\nLiberals will raise the Tax on Split Income rules to age 24. But drop most of the other “sprinkling” proposals, I predict.<\/p>\n