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For Immediate Release – September 12, 2019
OTTAWA- With the federal election called, Canadians for Tax Fairness is counting down the top five tax fairness measures we want to see promoted in the parties’ platforms.
“Canada’s new government will be tasked with balancing spending on important social programs without adding to its red ink. Fortunately the government can raise billions in additional revenues simply by making the tax system more progressive and ensuring everyone pays their fair share,” said Toby Sanger, executive director of Canadians for Tax Fairness.
This summer, Canadians for Tax Fairness released its Platform for Tax Fairness, which outlines opportunities for $40 billion in federal government savings. We polled our supporters to narrow down the top five tax fairness measures this election.
Closing tax loopholes topped the list.
Canada could generate at least $16 billion a year --$1,000 for each household-- just from closing the most regressive loopholes, such as the stock option tax deduction, the different rate on capital gains, and the business meals and entertainment expense, which even US President Donald Trump partially eliminated .
“Canada can’t afford not to fix its leaky bucket. The current government campaigned on a promise to close tax loopholes back in 2015 – it’s time to finish the job,” Sanger said.
Our supporters also want to see the following priorities from parties: get tough on tax havens, restore progressive tax rates, level the digital playing field and combat climate change.
Over the coming weeks, Canadians for Tax Fairness will highlight these priorities and look forward to seeing party leaders propose similar progressive tax measures in their platforms.
Canadians for Tax Fairness advocates for fair and progressive tax policies aimed at building a strong and sustainable economy, reducing inequalities and funding quality public services.