Are You Tired of Our Antiquated Tax System?
Now is the time for Canada to be laser focused in its tax competitiveness. The last time Canada undertook a comprehensive review of its tax system, humankind had yet to set foot on the moon. In the five decades since, repeated cutting and pasting has left Canadian taxation uncompetitive, cumbersome and inefficient. The consensus of the Canadian business community is loud and clear: We need a comprehensive review, with everything on the table, to create a modern tax system that can help build a Canada that wins. We are asking the federal Government to:
1. Appoint a Royal Commission to conduct a comprehensive review of the Canadian tax system
2. Broaden the tax base to explore the most effective tax policy solutions
3. Adjust the tax mix to better promote business investment and economic growth
4. Bridge the digital tax divide to ensure a fair and equitable tax system
5. Further simplify the tax filing experience with digital filing solutions
6. Legislate a taxpayer charter of rights to hold CRA accountable
7. Provide a representative for small business to resolve conflicts with CRA
8. Conduct regular comprehensive reviews to keep the tax system up to date
Want to find out more, read the report 50 Years of Cutting and Pasting: Modernizing Canada’s Tax System. Watch Trevin Stratton chief economist of the Canadian Chamber of Commerce make the case for building a new tax framework on BNN Bloomberg.