New tax changes could potentially be a death blow to some of Kelowna's small businesses.
That's according to the Chamber of Commerce, which says it fears limits on income sprinkling and capital gains will mean the end for some businesses.
BDO Partner Ken Carmichael says when it comes to a company's excess capital, taking more of it away is anything but fair.
"If you're some kind of employee and you have a pension, under the Tax Act rules, you're allowed to split your pension with your spouse," he said.
"Under these (proposed) rules, a business owner who puts money aside for his retirement in a holding company - he cannot split with his spouse. That is at a base level, incredibly unfair. To somebody who has put his home, his livelihood, everything at risk."
Crowe MacKay tax specialist Brian Sanders says this could mean people will have to keep working much longer.
"The investment or retirement nest egg, if we can call it that, or in some cases just excess capital that's available inside that company, income on that is going to be taxed at an extreme rate - close to 70%, which is unheard of in other countries, and certainly unheard of in Canada," he said.
"That really reduces that retirement nest egg that's available to those families."
The Chamber says there also needs to be much further consultation than the 75 days being proposed by the feds.
Executive Director Dan Rogers says they've asked Kelowna MP Stephen Fuhr to deliver a clear message.
"Slow down, start to have a legitimate conversation with some of the tax experts, stop looking at this deadline of October 2 as the line in the sand that you won't cross," he said.
"If you believe in consultation, put (the plan) on the shelf and have a good conversation to fix what that problem is. Because right now, they're taking this big sledgehammer, and trying to kill the small insect, and treating everybody like they're offenders."
Prime Minister Justin Trudeau has said he won't apologize for the plan, which is being discussed at the caucus meeting in Kelowna this week.
Sanders and Carmichael were also part of a panel discussion along with Kelowna MP Stephen Fuhr and other members of the business community.