$30 billion in government revenue lost as corporate tax avoidance doubles in 2021
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For Immediate Release: Tuesday, 4 October 2022
Explainer: What are Canada's worst tax loopholes?
The Canadian government loses over 40 billion dollars every year because of tax loopholes.
Most of that money ends up in the pockets of large corporations and very rich people, whose wealth would continue to grow even if those loopholes were closed.
Meanwhile, the public services we all benefit from such as healthcare, education, public transport, and protecting the environment, remain underfunded.
Canada's worst tax loopholes:
Briefing Package: Fair Tax Priorities for Budget 2022
The new Supply and Confidence Agreement between the Liberal Party and the NDP promises quick action on dental care, pharmacare and long-term care to bring about substantially better healthcare for all Canadians. It also ramps up investments in affordable housing and climate action. New funds need to be identified in Budget 2022 and beyond in order to make these commitments a reality.
The federal budget should include immediate action to close tax loopholes and uncover tax cheats, raise the corporate tax rate, and implement a wealth tax.
Katrina Miller
Katrina Miller has worked for over twenty years to win environmental and social justice improvements at every level of government, collaborating with a wide array of labour, community, and academic experts, and helping organizations and individuals hone their skills and strategies. She lives in Toronto and can often be found doing Capoeira or engaged in hijinks with her two children.
Corporate profits continue to rise as corporate taxes fall
Few single figures capture the power of corporations as well as the corporate profit rate.1
How tax breaks are worsening Canada’s housing affordability crisis
Summary
Report
Introduction
Facts
18 September 2024
Canadians are suffering from an ongoing housing crisis. While home ownership is increasingly out of reach for multiple generations, average rent prices are outpacing the cost of living, which is contributing to poverty, intimate partner violence, unsafe living conditions, and increased houselessness.
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Remembering Larry Gordon
We are saddened to learn of the passing of the founder of Canadians for Tax Fairness, Larry Gordon.