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This tax ‘loophole’ has helped rich Canadians avoid millions in taxes for their private corporations. Now the government wants to shut it down
Sunday, April 10th, 2022
The government said this amendment to the Income Tax Act would increase federal revenues by an estimated $4.2 billion over five years, according to the budget tabled on April 7… It appears the CRA only began in recent years cracking down on this technique of shifting a private company’s status for tax purposes, although the strategy emerged as early as 2010… the government did not address several broader tax loopholes that it was expected to.
Tags: budget, economy, tax
Posted in Governance Policy Context | No Comments »
How does the Canadian government spend your tax dollars?
Thursday, August 22nd, 2019
“Elections are dangerous time for taxpayers because the politicians will promise to spend, and the danger is they don’t explain how they’re going to pay for it,” Wudrick said. Those promises that require extra revenue would often lead to debt, which means future taxes or cuts in services for Canadians. A good question for the candidates, Wudrick suggested, would be: “how are you going to pay?”
Tags: budget, economy, jurisdiction, tax
Posted in Equality Debates | No Comments »
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