Tax options for pandemic spending

By External Author |

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As Covid-19 case counts continue to rise, ensuring more government spending to help workers and businesses through the winter months, there may eventually be a need for new taxes to pay for pandemic stimulus.

The NDP has championed a wealth tax on Canadians with more than $20 million in assets as well as higher taxes on companies’ excess pandemic profits. In a report last month, the C.D. Howe Institute suggested a GST hike was most likely. Deutsche Bank called for a tax on remote workers who haven’t been negatively impacted by Covid-19. Meanwhile, former Bank of Canada governor Stephen Poloz said the Canadian economy can grow its way out of deficits.

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Original Article Source Credits:   Advisor's Edge , https://www.advisor.ca/

Article Written By:  Mark Burgess

Original Article Posted on:  December 8, 2020

Link to Original Article:  https://www.advisor.ca/tax/tax-news/tax-options-for-pandemic-spending/

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