Tax Reforms Will Hurt Family The Businesses â€Myassignmenthelp.Com

Question: Discuss About The Tax Reforms Will Hurt Family The Businesses? Answer: Introducation The purpose of the given article is to present a critical analysis of the proposed tax reforms that the Canadian government has proposed in relation to the small firms. While the government states that these small firms which mostly consist of family businesses tend to exploit the existing tax system and hence aims to plug the existing loopholes to prevent systemic abuse. However, the article aims to indicate that this would adversely impact the small businesses especially those in the agriculture sector which tend to need encouragement in the form of tax incentives. Thus, through the various arguments, it aims to bring to the notice of the government that it should be selective in implementation of the tax reform and the objective should not be mere political gimmick but to actually plug the tax loopholes where they actually exist rather than assuming all businesses as similar entities(Charlebois). The article has been written so as to highlight that it would be wrong on the government to view all small business as greedy tax evaders particularly in the wake of declining businesses. Thus, while the government intends to plug the existing loopholes, it should be sector specific and should be clearer so as to avoid confusion and also ensure that the small entrepreneurs are not discouraged. Further, the author also intends to highlight the plight of the agriculture sector particularly by reference to the falling operations in the recent times and thereby making the case for fiscal incentives being provided for these rural businesses as the proposed tax reforms would adversely impact these rural businesses(Charlebois). For the purpose of the article, small farms which essentially are family owned have been sampled. This is apparent as the current article relates to the impact of the proposed tax reforms on these businesses. It is noteworthy that the impact of these reforms would not be limited to only these agricultural farms but would extend to various small businesses in various sectors. However, in order to put forward the argument that the author considers worthy, the focus has been put on these farms. Hence, for the given article, there firms are being sampled and family businesses belonging to the agriculture sector have been selected to drive home the point that the author wishes to extend in relation to the impact of the proposed tax reforms of the government(Charlebois). A particular line graph tends to highlight the declining agriculture operations over time. Hence, one of the variable is the time (or most specific year) while the other variable is the number of operations (in thousands). Also, there is another graph which tends to represent the province wise breakup of the farms. Here one variable is the province while the other variable is the number of farms in thousands at present. Further, on a provincial basis, the average farm area has been represented. Besides, a particular statistic also captures the farm types in accordance with their respective representation. The objective of the above representation is to represent an overview of the agricultural farms on a provincial level and simultaneously to indicate the falling agriculture operations across Canada(Charlebois). The collection of the data has been carried out using the statistics available from 2016 Census of Agriculture which has been obtained from Statistics Canada(Charlebois). Hence, the data used for this article is secondary as the researcher has used the data which has been collected by another agency. Had the researcher himself collected this data, then it would have been termed as primary. For the given article, the secondary data from reliable government sources is highly recommended. The given article does have some conclusions which are as stated below(Charlebois). The current tax reform proposed by the government would have an adverse impact on small businesses and entrepreneurship in general. One of the worst sectors affected would be agriculture which is already on the decline. Hence, the government needs to be sensitive and should not view all the small businesses with a single lens of being tax evaders and greedy businesses. The government has failed with regards to communicating the implications of the current tax reform and also differentiating the urban and the rural businesse Reference Charlebois, Sylvain. "Down on the farm: tax reforms will hurt family businesses." 22 September 2017. The Conversation. 25 September 2017 https://theconversation.com/down-on-the-farm-tax-reforms-will-hurt-family-businesses-84505