24 September 2014
This week, NDP National Revenue Critic Murray Rankin proposed legislation (Bill C-621) that would make it easier for government and the courts to bring such tax avoiders to heel. His bill focuses on proving “economic substance,” i.e. corporations must be able to prove that a transaction has an economic purpose other than reduction of tax liability in order to be considered valid for tax purposes.
Taxes the corporations are unfairly avoiding have to made up by the rest of us. In order to help ensure they pay their fair share and lighten our load a little, send a message to your MP here. And you can read the bill here (it's very short).
Posted by Bill Longstaff at 11:27 am