Explainer: What are Canada's worst tax loopholes?

By 9 August 2022

The Canadian government loses over 40 billion dollars every year because of tax loopholes.

Most of that money ends up in the pockets of large corporations and very rich people, whose wealth would continue to grow even if those loopholes were closed.

Meanwhile, the public services we all benefit from such as healthcare, education, public transport, and protecting the environment, remain underfunded.

 

Canada's worst tax loopholes:

 

Briefing Package: Fair Tax Priorities for Budget 2022

By 24 March 2022

The new Supply and Confidence Agreement between the Liberal Party and the NDP promises quick action on dental care, pharmacare and long-term care to bring about substantially better healthcare for all Canadians. It also ramps up investments in affordable housing and climate action. New funds need to be identified in Budget 2022 and beyond in order to make these commitments a reality.

The federal budget should include immediate action to close tax loopholes and uncover tax cheats, raise the corporate tax rate, and implement a wealth tax.

 

Jared A. Walker

Jared A. Walker has worked for over fifteen years with progressive leaders, organizations, and movements at all levels of government across Canada and the US to show people they are seen, connected, and have the power to change an increasingly uncertain, isolating world. Jared lives in Toronto with his partner, and is probably in the kitchen right now cooking up a storm with a glass of wine in his hand, a song on his lips, and rhythm in his feet.

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