Great to be back in the studio for the CBC News Network Weekend Business Panel, alongside Elmer Kim and John Northcott. We discussed a busy week in business, including:
- Bank of Canada Year End Report. What are the things that keep Bank of Canada governor Stephen Poloz up at night?
- Small Business Tax Changes, Round 2. Canada’s finance minister announced revised tax changes for small business, including in the area of income sprinkling. How are small businesses and their advisors expected to be impacted?
- FCC Votes to Roll Back US Net Neutrality. With the vote to remove US “level playing field” regulations from the net, what are the implications for Canadians?
Our world has changed so much in recent years and an area of increasing concern is security over financial systems. Hackers always seem to be one step ahead of business and public sector systems, and although many breaches have been on a relatively isolated basis, the risk a widespread incident should be very concerning. It’s critical to ensure that organizations have the necessary plans in place to combat this risk, as not only are their operations at stake, so are their reputations.
The ongoing saga of proposed small business tax changes has resulted in more uncertainty for Canadian companies. Recent developments demonstrate how little those in government who are responsible for this area actually understand, in terms of how business works. Now is the time to support companies in their growth and development, and requiring resources to be dedicated to addressing tax changes is of no meaningful value. This is especially true, given that there is an opportunity for Canadian companies to pursue global opportunities, as circumstances in the US become increasingly uncertain.
Finally, the impact of the loss of US net neutrality remains to be seen, but it’s fair to say that a lack of fairness is never good. Expect legal action and other delays to keep this situation percolating for a while.
Thanks very much, CBC. See you in 2018!