The government continues failing to close tax havens and tax loopholes for the ultrawealthy. While cost of living and prices continue to spiral out of control, large corporations are making record profits off the backs of struggling Canadians.

The super-rich are hiding more than $300 billion in tax havens every year and using tax loopholes to avoid paying their fair share. Closing tax loopholes and shutting down tax havens would save Canadians more than $16 billion every year. This is critical tax revenue that could be invested in things that Canadians desperately need, such as guaranteed basic livable income and a Just Transition plan to help workers and communities move towards a greener, more equitable Canada.

The NDP pushed hard and in Budget 2022, and there is a pandemic tax for banks and insurance companies.This is a start, and we will continue to fight for wealth tax and excess profits tax so that the ultra rich pays their fair share.

According to the CCPA’s study, if you add up all the measures that benefit mostly the wealthy, in 2011 alone, there is more than $100 billon in foregone revenue.

It is high time we close the loopholes and shut down the tax giveaways and reinvest that money into our communities, so that all Canadians—not just those at the top—can have the support they need to succeed.

NEWS: CBC - How the Liberal-NDP agreement will work and what it  might mean for Canadians

NEWS: CBC - How the Liberal-NDP agreement will work and what it might mean for Canadians

The "supply-and-confidence" agreement struck between the governing Liberals and the opposition New Democrats could affect the kind of legislation Canadians can expect to see pass through Parliament between now and 2025.

According to the deal, those key policy areas are climate change, health care spending, reconciliation with Indigenous peoples, economic growth and efforts to make life more affordable.

IN THE NEWS: National Observer - Rich keep getting richer while everyday Canadians suffer

IN THE NEWS: National Observer - Rich keep getting richer while everyday Canadians suffer

“I have had seniors come to my office in despair because their GIS (Guaranteed Income Support) has been cut and they don't know what to do. The rent is due and they have no other option,” said Kwan. “I've had seniors who've received eviction (notices) as a result of that … and been evicted and rendered homeless.”

The NDP has consistently pushed for a wealth tax, closing corporate tax loopholes, and providing a guaranteed livable basic income.

In the 2021 election, a one per cent tax on wealth over $10 million was a key plank of the NDP platform. Leader Jagmeet Singh also previously made an opposition day motion to implement a one per cent tax on wealth over $20 million.

OPEN LETTER to Deputy Prime Minister - Stop the garnishing of tax credits and refunds during the pandemic

OPEN LETTER to Deputy Prime Minister - Stop the garnishing of tax credits and refunds during the pandemic

One of the emergency measures to support low and modest income earners during the pandemic is an increase in the Goods and Service Tax Credit (GSTC) this year, doubling the maximum GSTC amount, providing an average boost of $400 for single individuals and close to $600 for couples. While this measure will bring much needed relief to those who qualify, we are concerned that this tax credit will not reach those whose student loans are in default and in collections. We have similar concerns for the Emergency Care Benefit, which will also be administered through the CRA.

Emergency funds like the increased GTSC and the Emergency Care Benefit are intended to help those who are financially hit the hardest and are most vulnerable during the pandemic, in addition to providing a boost to the economy. If the benefits are garnished and returned to the government, it would defeat the intended purpose. For these reasons, we are requesting that the garnishing of tax credits and tax refunds to repay student loan debts be suspended so individuals can fully benefit from the emergency financial measures that have been put in place during these trying times.

Constituent Resources
Mobile Offices
Contact Jenny

Sign up for updates

Connect with Jenny