One tenth of small businesses used
as tax shelters
Common to Conservatives in
Ontario, Alberta
TORONTO September 24th, 2015 - In a random
sampling of public opinion taken by the Forum Poll™ among 1557 adult Canadians,
3-in-10 have small businesses (29%), and these are slightly more likely to be
what is termed a micro-business (one to four employees - 17%), than “small”
small businesses (five to 99 employees - 12%). Small businesses are especially
common to Alberta (39% in total, 28% micro, 11% “small”). Conservatives are
also especially likely to own these businesses (34% in total, 24% micro, 10%
“small”).
Three quarters do not use
small business as tax shelter, a quarter may
Three quarters of small business owners explicitly say they
do not use their businesses as tax shelters (76%), while one tenth admit they
do (8%). A further one sixth choose not to answer, and it must be assumed some
of these also use their businesses in this manner (16%). In other words, as
many as one quarter of small business owners may use their businesses as tax
shelters (24%). This behaviour is especially common to Ontario and Alberta (12%
each), Conservatives (11%), the wealthier ($80K to $100K - 15%), not
particularly in Quebec (3%) but very commonly among the most educated (post
grad - 19%). Tax sheltering in small businesses is
more common to micro businesses (12%) than to “small” small businesses (4%).
“It is undoubtedly true, as Liberal leader Justin Trudeau has
pointed out, that some small business owners use their enterprises as tax
shelters, but it is interesting to see this practice is more common among
Conservatives and in Alberta, where among the loudest complaints about this
assertion were made," said Forum
Research President, Dr. Lorne Bozinoff.
Lorne Bozinoff, Ph.D. is
the president and founder of Forum Research. He can be reached at lbozinoff@forumresearch.com
or at (416) 960-9603.
