The secrecy that accompanies privatization schemes also makes it a lot harder to figure out when there are serious problems.
Canadians for Tax Fairness has continually advocated for the CRA to crack down on large tax avoidance operations, larger corporations and the wealthy and to stop being so heavy handed with less wealthy individuals, charities, and small businesses.
If we can make it harder for terrorists and organized crime to fund their activities, we reduce the risk to the public. Politicians who aren't willing to support a public registry of the beneficial owners of companies are lying if they turn around and pretend to be tough on crime or terrorism.
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.
On the list of countries operating CBI/RBI schemes, that the OECD feels have the potential to be used for tax dodging, are 2 tax havens that are popular with wealthy Canadians and large Canadian companies. These are Barbados and Panama.
What the Canadian Chamber of Commerce opinion piece doesn't mention is that more corporate tax cuts will make its wealthy members even richer.
For a family with 2 children, sending their children to private schools can cost up to $154,980 a year. That's 4.6 times the median income, based on the most recent figures from Statistics Canada.
For workers, even after deductions, an increase in the minimum wage provides two times the benefit of a tax cut.
“For Canada to be a real leader in gender budgeting, the revenue side of the budget cannot be ignored.” — Diana Gibson, Communications Director for Canadians for Tax Fairness