The Kelowna Chamber of Commerce says changes to the Liberals controversial tax proposals is a step in the right direction.
Federal Finance Minister Bill Morneau has announced the government will no longer make changes to the conversion of income into capital gains, and will scale back a proposal to crack down on passive investment income.
Kelowna Chamber President Tom Dyas says he's happy the government heard concerns raised with the original plan.
“There has been a relentless team working throughout the country to try and work on this so that they hear the voice of small business and they have heard the voice of small business.”
Dyas says he doesn't believe the government realized there would be an outcry when the changes were proposed over the summer.
Chamber Executive Chamber Dan Rogers says they're waiting to see the details before celebrating.
“We are moving in the right direction but we are still cautious because as we’ve said before the devil is in the details, we need to see the details,” he says “We appreciate you making the statements, it appears you’re winding this thing back, trying to save political face but we want to see the details.”
The proposed changes had been met with strong opposition from chambers and organizations.