Tax reforms aren't aimed at small business alone, says Fundy Royal MP

Proposed tax reforms are not about small businesses specifically but private companies in general, says Canada's new parliamentary secretary for small business.

Fundy Royal MP Alaina Lockhart, who was sworn in last week, said she has met with business owners and groups who are looking for guarantees they'll be able to keep growing if the reforms go ahead.  

"Essentially, what we're trying to do is create an economy that, when we have growth, we want all Canadians to benefit from that," Lockhart said in an interview Wednesday. 

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The Liberal government proposed in mid-July to close what it has identified as three loopholes, which allow wealthier Canadians who incorporate their businesses to avoid paying a higher tax rate. 

Federal Finance Minister Bill Morneau has said the government's goal is fairer taxation by removing an unfair advantage.

"This is about private corporations, not necessarily small businesses, and it's about the current tax system," Lockhart said.

But she also said she understands people's concerns about the changes.

Business owners want to be able "to continue to invest and for their businesses to grow, to save for a rainy day and make sure that any changes don't impact their day to day," she said.

Lockhart said she's confident the federal government is working through the reform process properly.

Several groups have decried the changes as a small-business killer, but Lockhart said the purpose of talking to businesses groups is to get things right.

"I think the government has realized that we need to change the way that we're approaching this consultation to make sure we do engage people in a productive way," she said.