Canada’s Top 60 public companies have over 1000 tax haven subsidiaries or related companies.
They use these to shift profits offshore in order to pay less tax. A popular practice is selling a patent or trade mark to an offshore subsidiary and then charging itself licensing fees for the use of that same patent or logo.
How does our tax system let this boondoggle happen?
October 16, 2017
OTTAWA – Morneau’s tax tweaks and small business rate cut announced
The Finance Minister announced that there will be tweaks this week to the closure of unfair private corporations tax loopholes. At the same time, a rate cut for small businesses has been announced.
Ottawa, September 27, 2017 – Over 14,000 Canadians from across the country have signed the message to Minister Morneau stating: “We support your reforms to start making the wealthy pay their fair share in tax. These loopholes have let a small group of very wealthy Canadians take advantage of a system that wasn't meant to be used as a tax shelter for the rich.“
Canadians to Finance Minister: “We support your reforms.”
Momentum is growing as over 14,000 Canadians tired of anti-tax hype speak out.
La Coalition canadienne pour une fiscalité équitable appuie les efforts faits par le gouvernement fédéral pour éliminer les échappatoires fiscales qui permettent à certains riches du Canada de réduire l’impôt qu’ils paient en recourant à des entreprises privées.
Les échappatoires fiscales inéquitables accroissent l’inégalité et compromettent l’intégrité de notre régime fiscal et la capacité du gouvernement de financer l’infrastructure sociale et matériel nécessaire pour assurer la santé et la croissance de l’économie.
The Canadian Coalition for Tax Fairness supports the federal government’s efforts to close unfair tax loopholes that allow some wealthy Canadians to reduce their taxes using private corporations.
Unfair tax loopholes exacerbate inequality, undermine the integrity of our tax system and diminish the ability of government to fund the social and physical infrastructure needed to ensure a healthy and growing economy.
The small but very vocal misinformation campaign threatens to scare the government out of taking this modest, but important step towards building a fairer tax system — which is why we have joined with Lead Now and created an open letter to Minister Morneau to let him know Canadians support the reforms.
Will you take a moment to add your name to this Lead Now open letter? If enough of us sign, it will give Morneau the confidence to keep pushing ahead.
Opinion By Paul Willcocks | TheTyee.ca
Anti-tax lobby has distorted Canadian debate to the benefit of higher income earners.
Tax breaks meant to help small business have instead become a major tax advantage for wealthier Canadians. If the federal government backs down on its plan to close a tax loophole exploited by high-income earners, the rich people have won.
Le ministre des Finances, Bill Morneau, a annoncé des consultations publiques sur sa proposition d’éliminer les échappatoires fiscales qui permettent à des particuliers à revenu élevé d’utiliser des sociétés privées pour payer moins d’impôts.
Sans grande surprise, ceux qui ont le plus à perdre commencent à répliquer. Il ne faut surtout pas laisser les intéressés couper court à cette petite, mais ô combien importante, initiative visant à rendre le régime fiscal plus équitable.