Canada’s financial sector has been the greatest beneficiary of recent corporate income tax cuts, as well as from preferred tax rates applied to capital gains taxes and stock options. In total, the value of these tax preferences and recent tax cuts now adds up to approximately $11 billion a year for Canada’s financial sector and is projected to reach over $14 billion a year in 2013.
A new CCPA study says Canada should join other countries in introducing fairer taxes on the financial sector that could generate over $10 billion a year.
The study recommends establishing a fairer tax system and broadening the base by:
Click here to read Fair Shares: How Banks, Brokers, and the Financial Industry Can Pay Fairer Taxes.
The CCPA’s bold vision and creative solutions help us imagine better futures for all. Its efforts to build bridges between labour, industry, and civil society and mentor young activists lay the foundation for realizing those provocative futures. I consider my support for the CCPA an investment in a better future for British Columbia.
— Polly Ng, Next Up graduate