By Michael Wolfson Canadian controlled private corportation, CCPC, economist, finance minister, income, income groups, income inequality, income taxes, policy, private companies, rollover, small business, tax breaks, tax fairness, tax reform
On the same day that the Minister of Finance, Bill Morneau, clarified the federal government’s proposals to limit “income sprinkling” as a way for high income owners of private companies to reduce their taxes, the Senate Finance Committee released its report recommending that it all be scrapped. Instead, the Senate Committee recommended that the government […]
By Michael Wolfson Canadian Controlled Private Corporation, CCPC, Coalition for Small Business Tax Fairness, doctors, economist, finance minister, income, income groups, income inequality, income taxes, policy, private companies, rollover, small business, tax breaks, tax fairness
Finance Minister Bill Morneau’s proposals for tightening tax breaks associated with private companies is generating several kinds of response on social media and in mainstream media. The most evident is an impressive deluge of evidence-free rhetoric claiming that the proposals are an attack on everything from the middle class to maternity leave for female doctors […]
By Michael Wolfson doctors, global average income growth, income, income groups, income inequality, income taxes, policy, private companies, small business, tax breaks, tax fairness
A version of this commentary appeared in Maclean’s Magazine Among the most insistent critics of the recent proposals by Finance Minister Bill Morneau to tighten up the use of private companies to avoid taxes have been Canada’s doctors. Canadians generally do not begrudge doctors their above-average incomes. They spend many years training for their jobs, […]
By Michael Wolfson doctors, global average income growth, income, income groups, income inequality, income taxes, policy, private companies, small business, tax breaks, tax fairness
Federal finance minister, Bill Morneau recently released a long and nervously awaited discussion paper which was met with near apoplexy in some corners. The paper aimed at closing a number of loopholes where mainly rich taxpayers use private companies (Canadian controlled private corporations or CCPCs) to reduce their taxes compared to most Canadians whose incomes […]