The federal government is moving to pare down its controversial tax proposal on passive income so that it will only affect three per cent of private corporations. Changes rolling out all weekThe announcement is part of a week-long Liberal effort to calm the anger surrounding the tax proposals, which have outraged entrepreneurs, doctors, tax professionals, farmers and Liberal backbench MPs. Trudeau also said the government intended to move ahead with another controversial proposal from the three-part tax package. He's argued the proposals are designed to create a fairer tax system, especially for those in the so-called middle class. In announcing the proposals over the summer, Morneau recommended limits on the use of private corporations to make passive investments that are unrelated to the company.

Source: CBC News October 17, 2017 21:13 UTC