Hootsuite CEO says tax changes for small business could hamper innovation

SEATTLE — The head of one of Canada’s best-known tech darlings says Ottawa’s proposed changes to small business taxes could hamper innovation and prevent Canada from becoming a hotbed for technology giants.“I’ve been an entrepreneur and a small business owner for a large part of my career, I know that a lot of those businesses operate on the margins,” Ryan Holmes, CEO of social media management platform Hootsuite, said in an interview at the Cascadia Innovation Corridor Conference.“I would encourage the government to look very closely because … it is causing a lot of concern to business owners,” he said.In mid-July, the federal government released a three-pronged plan to end several tax provisions used by some small businesses.One provision at risk of being eliminated is income sprinkling, a practice that permits business owners to lower their taxes by passing income to family members, even those not active in the business, who are in lower tax brackets.The government is also proposing limits on the use of private corporations as a way to gain tax advantages when making passive investments, and limiting the conversion of a corporation’s regular income into capital gains that are typically taxed at a lower rate.If the government wants to have more head offices in cities like Vancouver, Holmes said, that won’t happen by convincing established companies to move to the West coast as that involves significant cost, among other issues.“If we want to get more head offices there we need to create more Hootsuites,” he said. “I think you need to be very favourable at the small end of the market.”Those start ups can become big businesses with large, local headquarters.Hootsuite, which launched in 2008, now employs close to 1,000 people in Vancouver and several offices abroad, according to its website.Holmes is not the first to criticize the controversial tax proposal. Doctors, lawyers, tax professionals, shopkeepers and others who have incorporated their small businesses to reduce their tax bill are among those speaking out.The criticism from Hootsuite’s CEO and other small business owners is directed at a federal government that has put innovation front and centre. The buzzword received hundreds of mentions in the budget and the Liberals have committed to $950 million to a supercluster program.Tech firm leaders have been successful in changing the Liberal government’s mind about policy in the past. After discontent from a number of tech firms, Ottawa abandoned a plan to cap how much could be claimed through stock option deductions.The prime minister’s chief of staff, Gerald Butts, responded to criticism of the proposals on Wednesday morning with a recognition that the measures are not just a question of fairness but also of boosting government revenues.“If we all want the Canada we say we want, we have to pay for it. If our government encourages our wealthiest citizens to opt of progressive income tax, we will not be able to do that.Prime Minister Justin Trudeau has previously said the government is holding public consultations to hear Canadians’ concerns and ensure there are no unintended consequences. The consultations end Oct. 2.Follow @AleksSagan on Twitter. read more

Cash pours in for bargain hunter as £15 broken teapot fetches £575000

first_img“Bartlam made a fair amount in America but no pieces survive over there. We don’t know how the tea service came to Britain but it might have been when Bartlam visited in 1769.” The teapot marks the birth of American porcelain. At the time the US was saying ‘we don’t need British porcelain anymore’porcelain expert Clare Durham The find confirmed that Bartlam was the first producer or porcelain in America. In 2010, these fragments helped confirm the bowls sold in Britain in 2002 were in fact made by Bartlam. Miss Durham said: “The teapot marks the birth of American porcelain. At the time the US was saying ‘we don’t need British porcelain anymore’.”It means so much more to the Americans than it does to us hence why it ended up being bought by the Metropolitan Museum of Art. In 2002, four unmarked tea bowls and two saucers that sold at auction in the Midlands were later confirmed to be by Bartlam and the patterning on those matched that on the teapot.It is thought the teapot and bowls formed part of the same tea service made by Bartlam at his factory in South Carolina and brought to Britain by him during a visit in 1769.The unnamed middle-aged vendor was told the pot might sell at auction for anywhere between £20,000 to £50,000. Woolley and Wallis Auctioneers in Salisbury A broken teapot bought for £15 has sold for £575,000 after it was discovered to be one of America’s first pieces of porcelain.A bargain hunter thought the blue and white item, which was missing its lid and had a broken handle glued back on, was common pearlware.But the hobbyist dealer’s pot turned out to be the work of John Bartlam, a British potter who took his trade across the Atlantic 250 years ago.Bartlam’s enterprise was cut short by the American Revolution and hardly any examples of his work exist today.Expert Clare Durham, of Woolley and Wallis Auctioneers in Salisbury, Wiltshire, suspected the teapot might be non-English porcelain and further research established it was the work of Bartlam. But interest took off, especially from America, with bids going up by £5,000 and then £10,000 at a time at the auction. It eventually sold for a hammer price of £460,000. With all the fees added on the overall price came to £575,000.It was bought by a London dealer Rod Jellicoe on behalf of the Metropolitan Museum of Art in New York, where it will end up.Bartlam was a potter in Staffordshire who relocated to South Carolina in around 1763 to mine china clay in the area and meet the desire of colonial Americans to dine in the English style.It is not known what or how much porcelain Bartlam made there, but in 2007 the site of his factory was found and fragments of three blue decorated tea bowls. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. The teapot was sold by Woolley and Wallis Auctioneers in SalisburyCredit:Woolley and Wallis/BNPS last_img read more