The decision to allow Income Trusts, which someone in the Federal Liberal cabinet also leaked to a stockbroker buddy on the day before the decision was announced, will cost taxpayers bigtime.
OTTAWA — Income trusts will cost Ottawa and the provinces $1.1-billion in lost tax revenue annually once Telus Corp. and BCE Inc. convert to the corporate-tax-avoidance structure, a new study says.You may want to rethink the old canard about the Conservative Party being in bed with big business. It wasn't Stephen Harper handing more than a billion dollars over to these wheeler-dealers.
The report by tax expert Jack Mintz shows that Canada's tax-leakage problem has doubled in two years — from $540-million annually in 2004 — despite efforts to solve it.
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