“These tax loopholes overwhelming benefit high incomes earners and the wealthy, allowing them to pay lower rates of tax than ordinary Canadians do on their employment income” — Toby Sanger, executive director of Canadians for Tax Fairness
In 2017, Fiat Chrysler made a €3.5 billion (roughly Can$5.27 billion) profit. But in spite of the fact Fiat Chrysler is now profitable, the way the loan agreement was structured in 2009 means a loan that helped the company survive will be written-off.
Think tank unveils plan to cut poverty, create jobs, and close tax loopholes.
Canadians for Tax Fairness is pointing out that while the workers of Target have to pay full tax on their 16-week severance package, not all of the CEO's $70-million deal will be taxed.