There has been surprisingly little critical commentary on the 2018 federal Budget legislative proposals regarding the taxation of passive investment income in private corporations. This sorry saga has now come to an end, but with very little progress made in terms of gains in public revenues and the promotion of greater tax fairness.
Gender Responsive Budgeting has been trumpeted as the focus of the Liberal government budget preparation for the past two years. But how deep does the analysis go and how does it affect outcomes, especially around touchy issues like fair taxation?
Ottawa – The federal budget missed an opportunity to recover up to $12 billion in tax revenue that could be invested in needed health and social programs, contends the Broadbent Institute.
“Tax loopholes used mainly by the very wealthy are costing us billions every year,” stated Rick Smith, Executive Director of the Broadbent Institute. “A fairer tax system that sees these loopholes closed would help us fight the inequality that’s threatening many of our communities.”