Moves to close some tax loopholes for higher income Canadians could have some unintended consequences for business owners here in High River.

High River Chamber of Commerce President Steven Muth says the changes aimed at getting corporations and business professionals like doctors and lawyers may not just hit those being targeted.

"The fear in the accounting and taxation community right now, and should be the fear in the business community, is that these changes, while identified at 0.5 per cent of the population, will have a severe effect on the other 99 per cent of the business population."

Muth says small to medium sized incorporated businesses in Town, and even farmers who employ family members may be hit by the changes to the tax structure.

The proposed changes would prevent business owners from using their private corporations to shift some of their income to family members, whether they're involved in the business or not.