| Canadians for Tax Fairness

Report: January 7th is Corporate Income Tax Freedom Day 2022

Published on: 13 January 2022

Reading Time: 25 minutes

Summary

Report

Introduction

At 12:33am on January 7, Canadian corporations collected the last dollar needed to pay their annual corporate income tax bill.[ii]

Since 2010, Corporate Income Tax Freedom has arrived, on average, by 2:19am on January 7. However, the time has been trending earlier and earlier with corporations keeping an additional half hour or so of revenue each year. This trend is a direct result of falling corporate income tax rates and widespread use of tax loopholes, tax havens, and aggressive corporate accounting.

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By 3 December 2021

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Dear Sir or Madam,

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Angeli Galvez

Angeli Galvez is a dedicated student at TMU (formerly known as Ryerson), where she is pursuing a degree in Economics and Finance. Her academic journey has been guided by a profound commitment to advocating for tax fairness and supporting the well-being of Canadians.

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^{[This post has been adapted from a presentation by Canadians for Tax Fairness Director Toby Sanger at an event organized by CinemaPolitica Danforth and the Toronto-}

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Summary

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Introduction