text: Kudos to the government for taking on the issue which is contentious politically. Corporate tax rates were significantly reduced by previous conservatives, resulting in many individuals setting up CCPC's for "businesses" for tax benefits only. However, there needs to be a delicate scalpel approach and not the crude axe, as the lion's share of CCPC's are legitimate businesses who use the benefits for (arm's length) hiring, investing in plant & equipment, new tools, expanding revenue sources, etc. High earning professionals who already have high T4 income (ie. MP's, university professors, some IT employees) set up corporations for  "side" businesses (ie speaking engagements, contract work on the side). Where is the business risk in this?  These income streams should be reported as other income/sole proprietorship income on the T1 return. And their retirement investments 
  (registered and non-registered) should be subject to the same rules as employees and reported on the T1 return.