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Fair tax measures for $92 Billion annually

Photo: Clay Banks

Canada could gain 92 billion dollars Canadians for Tax Fairness

Over $92 billion dollars could be raised through a series of fair tax measures, outlined in C4TF’s recent Platform for Tax Fairness. These measures would require the richest individuals, biggest corporations and major polluters to pay a fairer share of government revenue. Canadians across political lines overwhelmingly support fairer taxes.



$ Billions available in estimated revenue from fair tax measures :



 Fair Tax Measure
22  Tax capital gains income at 100%, just like employment income
20  Impose an annual wealth tax on the very richest Canadians
11  International corporate tax reform to tax multinationals fairly
8  Increase the general corporate tax rate from 15% to 20%, reversing decades of tax cuts
8  Impose a pandemic super profits tax
7  Introduce a financial activities tax at 5% on profits and compensation in the financial sector
3  Increase investment in enforcement, strengthening the CRA
3  Strengthen the carbon tax framework by eliminating preferences for large emitters
2.5  Restrict the deductibility of interest by large internet platforms
2  Impose an inheritance tax on high-wealth estates
1  Reduce the corporate dividend tax credit
1  Increase the top federal tax rate on personal incomes over $750,000 from 33% to 37%
1  End the tax deductibility of advertising on foreign internet platforms
1  Impose a minimum tax on corporate book profits
0.5  Eliminate the stock option deduction
0.5  Cap lifetime TFSA contributions at $75,000
0.5  Put a $1 million cap on the business deduction for executive pay
0.45  Impose a meaningful luxury goods tax
0.3  Eliminate remaining fossil fuel subsidies
0.2  Eliminate the business entertainment expense deduction
92.95  $ Total potential revenue (billions)



Funds raised through these fair tax measures would be enough to pay for

  • universal pharmacare ($15 billion) [1],
  • ending the First Nations’ water crisis ($7.4 billion) [2],
  • energy retrofitting of our homes ($6 billion),
  • the Canada Child Benefit including Child Disability Benefit ($27 billion) [3],
  • the cost of improving long-term care ($13 billion) [4],
  • and more




[1] Advisory council calls for $15B universal, single-payer pharmacare plan, Kathlee Harris, CBC News, 12 June 2019

[2] Clean Water for First Nations: Is the Government Spending Enough?, Parliamentary Budget Office of Canada, 1 December 2021

[3] Details of Economic and Fiscal Projections, Budget 2021, Government of Canada, 19 April 2021

[4] Cost Estimate for Motion 77: Improvements to Long-Term Care, Parliamentary Budget Office of Canada, 4 August 2021




{Photo by Clay Banks on Unsplash}



Photo: Clay Banks