LOL. I've owned a business and I paid almost no real tax. You just close it after three years and start another. Your payroll tax is not a tax on you, it's a tax on your workers. Your choice to have a business account with one of the Canadian banks (the ultimate rip-off artists) is a choice, you can go elsewhere. Unhappy about WSIB? Perhaps you'd like to get rid of it and let the courts make you pay when your workers get injured? WSIB is a scam to protect companies from legal liability, it pays no better than UI. Commercial insurance is not a tax, it's a cost.
All this crying by fast food restaurant owners who won't do the work themselves, but hire exploited foreign workers at less than minimum wage with no benefits and whine about not having enough people to do the job. Their 'businesses' do nothing for the economy. Why is it the taxpayer's job to make sure you have enough low wage workers? If your business is worth a damn it would support itself.
Let’s break down your points:
“I owned a business and paid almost no real tax”
- Then it wasn’t a profitable company. My corporate tax at the end of our fiscal year is a decent chunk, and that’s after our overpriced accountants have had their way with the numbers. They keep everything above board just in case there is ever an audit, and I realize this is costing me more than getting creative with the books, but I’d rather play by the rules than run the risk of having the cra come down on me.
“Close it after 3 years and start another one”
- Why? Why would I work so hard to create a solid customer base, promote a business, to just shutter it and open something else? People/businesses that do that come across as very sketchy to me. We have people we wholesale to that do that and those are the people that don’t get terms (pay up front) and don’t get preferred pricing either. They are also the ones, generally, who are more of a pain is the ass.
“Payroll tax is not a tax on you it’s a tax on your employees”
- You should know (you know, seeing as how you’ve run a business before….) that there are employee deductions and employer matched deductions. The fact that you lack this very basic payroll knowledge throws a lot of doubt in you ever running a business with employees.
“Your choice to have a business account with one of the Canadian banks…”
- Laughable at best. I’m not trusting hundreds of thousands of dollars to some no-name entity to protect me if something goes sideways. We are in a small town and the bank manager will call me personally if something looks fishy. They have saved me a lot of headaches. The fees are hefty, but it’s worth it. Just because something is expensive doesn’t mean it’s a waste of money.
“Unhappy with WSIB? Perhaps you’d like to get rid of it….”
- Never said I was unhappy. I was simply listing an expense. Again, just because it’s an expense doesn’t mean it’s not worth it.
“Commercial insurance is not a tax”
- I’m aware of this. But this is an expense which is part of running a business and falls under my point of ‘it’s expensive to run a business’ and ‘business owners don’t just sit back collecting piles of money’
Is it expensive to run a profitable company? It sure is. And there are a lot of expenses that most employees are clueless about.
Do I sit back and take in piles of money? HA! Not even close! Sure, I live comfortably, but I’m not retiring any time soon and I still play the lottery every once in a while.
So to summarize, based on your responses, I don’t think you have the first clue about running a profitable business and I doubt you’ve ever owned a business aside from maybe something run out of your house that was a “business” for tax purposes only.
Now, I’ve spent enough time on this. Time to go into the office and get caught up on paperwork while my employees enjoy their weekend and spending time with their families.