Canada's wealthiest CEOs don't have to pay tax on 50 per cent of income received from cashing in company stock that they have received as part of their compensation.
Canadians for Tax Fairness
Canadians for Fair Taxation promotes a progressive tax system, based on ability to pay, to fund the public services and programs required to meet our social, economic and environmental needs.
How many tax dollars are missing? The troubling answer is that the Harper government has absolutely no idea. Worse, it is thwarting those who want to find out.
The tax system has morphed into an unwieldy mess of loopholes that are ineffective except for helping very wealthy people avoid paying taxes.
When a group of Saskatchewan people who follow us on Facebook and our webpage erected a huge billboard to support our work, we were thrilled. It was simple. effective and inspiring.
The most expensive and most egregious tax loopholes such as the Stock Option Deduction, Capital Gain Deduction and Business Entertainment Deduction have not been touched.
Will Finance Minister Jim Flaherty do the right thing on Budget Day, February 11? Send him a message now asking him to close unfair tax loopholes and tackle tax havens.
It is beyond dispute that parental income splitting will give lavish tax benefits to the richest families while giving shockingly small benefits to those who actually need them the most.
Because of an unfair tax loophole, only half the income from stock options is taxable.
Our tax system is riddled with unfair and ineffective loopholes that cost federal and provincial governments a lot of money and disproportionately benefit higher income taxpayers.
Canadian senators who earned $2-million in stock options from non-Senate work didn’t have to pay income tax on 50 per cent of that money.