441-02680 (Taxation)

We, the undersigned Residents of Canada, draw the attention of the House of Commons to the following:

WHEREAS:

Financial advisors, while providing a qualified and professional service to their clients, are currently ineligible to individually incorporate;

In so being ineligible to incorporate individually, financial advisors are significantly disadvantaged in effect when they are taxed, especially in comparison to similar and related professions; and

Affected stakeholders, such as Advocis, the Financial Advisors Association of Canada, have brought attention to these legal and regulatory discrepancies and also to specific proposals to resolve them for the sake of consistency and fairness.

THEREFORE, your petitioners call upon the Government of Canada to immediately act, with every means at its disposal, to ensure that financial advisors are allowed to individually incorporate, and that they are treated accordingly in regard to federal taxation; as well as to actively promote this cause in working with all the Provinces and Territories to make the same allowance and apply the same treatment to financial advisors within their jurisdictions.