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As someone who works at a startup and has interacted with many others, there is some merit to the claims. I agree that these loopholes should be closed and the
by danudey 9y ago
As someone who works at a startup and has interacted with many others, there is some merit to the claims. I agree that these loopholes should be closed and the tax system reformed, but I think we should be careful to do it in such a way that doesn't negatively affect e.g. companies like the one I work for, which went from three people to 70 and millions in revenue in just a few years.
Especially as Vancouver is trying to build its tech and entrepreneurial ecosystem, it's important to ensure that we aren't driving away or hindering small businesses to grow while also not letting huge corporations like TD, Telus, or Apple get the biggest benefits from the tax system the more money they have.
- aaronblohowiak 9y agoSince you pay taxes on profits and not revenue how would they impede growth? Money reinvested is tax free.
- IncRnd 9y agoMoney is reinvested tax free for a c corp. That is not always true.
- seanp2k2 9y agohttps://mobile.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html https://mobile.nytimes.com/2012/04/29/business/apples-tax-st... https://motherboard.vice.com/en_us/article/pga739/apple-avoids-60-billion-in-taxes-by-keeping-money-overseas-report-says https://motherboard.vice.com/en_us/article/pga739/apple-avoi... should have the loopholes which allow them closed.
- bryanlarsen 9y agoCan you expand? Which particular change would affect your company? In no way should any of those changes affect a fast growing company. I doubt investors would be very happy if your founder was giving unearned dividends to family members. Your founder shouldn't be locking up capital in long term passive investments. Your founder probably isn't particularly worried about evading estate taxes.