human
I am also an owner of a small private corporation with active business income and a lawyer and I have been annoyed for years that many professionals have been using these small business corporations to unfairly reduce tax. This was never the intention. What the proposal does do is to fairly tax private corporations that are using surplus cash to earn non-business income which allows them to pay a lower rate of tax than an individual earning the same income outside a corporation. This is eminently fair. Either the owner re-invests the capital in the business to earn business income and be assessed at a preferential tax rate or she can take the cash out of her corporation and invest it personally and pay the proper tax on it like the rest of us.
gpt
{"moderation": ["safe"]}