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Pages tagged "taxes"


Bill C-362 and “Tax Fairness”: Closing loopholes and bringing money back to Canada

Posted on News & Blogs by Murray Rankin · December 13, 2017 2:33 PM

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This blog post is part of a series of posts that will be focusing on the tax avoidance by Canada’s most wealthy. This series was sparked by findings in the Paradise Papers — the latest leak that revealed the offshore tax haven activities of former Canadian elected officials and political insiders. Tax avoidance is wrong. It robs the Canadian government from paying for and maintaining our health and social programs; ones that work to improve the lives of all Canadians. A government crackdown on offshore tax havens is urgent and necessary.

“Tax Fairness” is a phrase being bandied about more and more lately. If I had a dollar for every time I’ve heard Liberals say “tax fairness” over the past 6 months, I would be very wealthy indeed. But for all the talk, where’s the action in addressing this terrible problem? A recent Environics poll shows that 90% of Canadians agree that using tax havens to avoid paying taxes is morally wrong, even if it’s legal.  And almost all agree that the law should be changed to make the use of tax havens illegal.

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Notes on the Federal Fiscal Update

Posted on News & Blogs by Andrew Jackson · October 24, 2017 7:33 PM

canadian money fanned out

Social progress is made in curious ways.

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Ordinary Canadians Should Support Closing Private Corporation Tax Loophole

Posted on News & Blogs by Andrew Jackson · July 20, 2017 3:06 PM

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Federal Minister of Finance Bill Morneau is to be commended for cracking down on very high income taxpayers using private corporations to avoid paying their fair share of tax. He should shrug off predictable and self-serving criticism from business lobby groups, and deepen his resolve to promote progressive tax reform. 

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So-called "Middle Class" tax cut leaves out most Canadians

Posted on News & Blogs by Andrew Jackson · November 14, 2015 8:00 AM

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The so-called “middle class” tax cut promised by the newly elected Liberal government in the name of promoting greater fairness seems set to be quickly implemented for the 2016 tax year. Yet the distributional and revenue consequences of this measure are often misunderstood, and the proposed change merits reconsideration.

Currently there are four federal tax brackets: 15% on taxable incomes of less than $44,701; 22% on further income up to $89,401; 26% on further income up to $138,586; and 29% on income above that amount.  

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Fiscal austerity and lost Canadian jobs

Posted on News & Blogs by Andrew Jackson · August 01, 2014 9:41 AM

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Bill Scarth is a highly respected mainstream Canadian economist at McMaster University. In a piece just published by the C.D. Howe Institute, a generally conservative think-tank, he argues that the pace of federal deficit reduction should be slowed in order to lower unemployment.

His key point is that the economy still has a lot of slack which will not be quickly closed just by maintaining interest rates at their currently very low levels. 

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Mad Math: Income-splitting meets Don Draper

Posted on In the News by NationBuilder Support · June 13, 2014 6:04 AM

Jennifer Robson / iPolitics.ca

In The National Post, Tasha Kheriddin critiques a recent study on income splitting by Tristat Resources for The Broadbent Institute. Kheriddin argues that income-splitting is just a matter of establishing fairness between families with kids and those without.

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Income splitting can make our tax system fair for taxpayers with young children

Posted on In the News by NationBuilder Support · June 12, 2014 12:27 PM

Tasha Kheiriddin / National Post

The issue of income-splitting — a tax policy whereby income is reattributed within a household from a higher-earning spouse to a lower-earning spouse — has been front of mind among tax experts, federal Conservative ministers and, most recently, the left-leaning Broadbent Institute. The practice advantages households in which income is predominantly earned by one spouse, since it allows a taxpayer in a high tax bracket to attribute income to a partner who pays at a lower marginal rate (or who earns nothing at all).

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Face the facts

Posted on In the News by NationBuilder Support · June 12, 2014 12:25 PM

Editorial / The St. John's Telegram

If you don’t have the facts, it makes it that much easier to simply apply your own ideology.  But it doesn’t mean good results are on the way for everyone involved.

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OECD to Canada: tax stock options to combat inequality

Posted on News & Blogs by Andrew Jackson · June 11, 2014 7:49 AM
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The OECD Economic Survey of Canada released today calls for tax reforms which would increase government revenues while also reducing inequality, specifically calling for changes to preferential treatment of stock options.
 
Noting that income inequality in Canada is above the OECD average and has been rapidly rising in recent years, the organization states that "there is also scope for the federal government to increase efficiency and reduce income inequality by further reducing tax expenditures that benefit relatively higher income households, such as... preferential treatment of stock options” (p. 38).
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Who wins with income splitting?

Posted on News & Blogs by Jonathan Sas · June 11, 2014 5:40 AM

If Stephen Harper’s goal was to design a tax policy to make income inequality in this country even worse, he can pat himself on the back. That’s exactly what the Conservatives’ family income-splitting tax scheme will do.

Research from various organizations across the political spectrum has demonstrated already that this tax policy, projected to cost the federal treasury $3 billion in 2015, would be an expensive and inequitable tax giveaway.

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