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Results: 61 - 75 of 138
Kaylie Tiessen
View Kaylie Tiessen Profile
Kaylie Tiessen
2020-12-10 18:32
Yes, absolutely. I'll read right from our brief. Under the heading “Rebuild Canada's Fiscal Capacity”, it reads:
Enhance Canada’s fiscal capacity through a number of tax changes including implementing a wealth tax, close tax loopholes, clamp down on tax havens and amend the Income Tax Act so that Canadian ad buys of American digital media are no longer tax deductible;
View Pat Kelly Profile
CPC (AB)
Can somebody answer the question the minister failed to answer—will the government freeze existing taxes and agree to not impose new taxes next year?
View Pat Kelly Profile
CPC (AB)
They can answer whether it's been contemplated and whether their plans may have assumptions around that.
Andrew Marsland
View Andrew Marsland Profile
Andrew Marsland
2020-12-08 17:16
Mr. Chair, the question was posed to the minister and the minister responded. As you say, it's a policy question.
Kim Moody
View Kim Moody Profile
Kim Moody
2020-12-07 20:07
Thank you, Mr. Chair.
Good evening, committee members.
Thank you for the opportunity to discuss the 2021 federal budget priorities. My name is Kim Moody. I'm a chartered professional accountant and the CEO and director of Canadian Tax Advisory services for Moody's Tax Law and Moody's Private Client.
I have a long history of serving the Canadian tax professionals in a variety of leadership positions, including chair of the Canadian Tax Foundation, co-chair of the joint committee on taxation of the Canadian Bar Association and CPA Canada and chair of the Society of Trust and Estate Practitioners for Canada to name a few.
Given the limited time we have tonight, I'm going to keep my opening remarks shorter than usual.
March 19, 2019, does that date mean anything to anyone? Well, it should. That was 629 days ago, and that was the last time the federal government released a budget. We are quickly approaching the Canadian record for that kind of delay of 651 days.
As former parliamentary budget officer, Kevin Page, said in October this year that “are fiscal plans. And to say that, 'because there's too much uncertainty, we're going to manage without a plan', is kind of bizarre.... The reason we have plans is because there is uncertainty.” I absolutely agree.
In this day and age of uncertainty, a fiscal budget and plan is needed, and the recent November 30, 2020, fall economic statement is not that plan.
As esteemed economist, Dr. Jack Mintz, who recently appeared before your committee, stated in the National Post on December 3, 2020, “I was hoping our new minister of finance, once a fine journalist, might produce a fall fiscal statement written clearly and to the point. Instead, we are treated to 237 pages of repetitive back-slapping and cliché-laden phrases that few will bother to read.”
I agree. As Kevin Page stated in a CBC news article on December 6, yesterday, after the release of the fall economic statement, “We don't really have a good view—almost no view—of the government spending today. We have estimates of what the government thinks it will spend for 2020, 2021, but those are not the actual monies that are going out the door”.
Accordingly, it is critical for our country's fiscal future to develop a well- thought-out budget and to do it quickly and thoughtfully. Pre-budget consultations are famous for organizations and individuals who provide their views on how the Government of Canada should spend and/or raise their money. There's no shortage of funding requests, and today is no different.
With the above in mind, I believe there are two key broad objectives that the government should set their focus on. Number one is targeted short-term spending to continue to assist business owners, job creators, so they can continue to employ Canadians. Jobs, jobs, jobs should be of primary importance in the short-term. Number two is to engage in comprehensive tax review and reform.
With respect to the jobs priority, it's important to remember that government does not create jobs or wealth. That distinction is left mainly to the private sector; however, government can certainly provide a fertile garden to encourage job growth. How can it do that in the short-term? The continuation of the wage subsidy and rental subsidy will certainly help, but non-budgetary matters, pre-approved resource projects and accelerating permitting time for construction projects would greatly assist the acceleration of employment.
Kim Moody
View Kim Moody Profile
Kim Moody
2020-12-07 20:10
The continuation of the wage subsidy and rental subsidy will certainly help, but non-budgetary matters, such as quickly approving resource projects and accelerating permitting time for construction projects would greatly assist the acceleration of employment.
From the perspective of my home province of Alberta, it's my belief that Bills C-48 and C-69 should be repealed, which would go a long way to restoring foreign investor confidence back in our oil and gas sector.
Finally, as many presenters have told you in the past, this country needs comprehensive tax review and reform. Yes, I know, many of you are tired of hearing this. Your committee has recommended this very thing and so has the Senate. Perhaps there is something to all the smart people that have appeared before you. Perhaps certain academics, bureaucrats and parliamentarians who think that comprehensive tax review is not necessary or that Canadians are not ready for such a review are simply wrong. Just maybe....
In my view, Canadians are ready, ready for real and refreshing change for the better, ready for positive change to assist our taxing statutes to get ready for the next generation. Forget the cries for patchwork quilt fixes. In addition, ignore the calls by some who want significant change, such as the addition of a wealth tax, without comprehensive review and reform.
Any big changes should only be made after a well-represented panel of tax experts, economists, academics, public policy experts and other stakeholders conduct a thorough and well-represented review of our current system and recommend a new system for our future, a bigger and better future.
Thank you. I'd be happy to answer any questions.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-12-07 20:14
Yes. Thank you.
You mentioned tax reform a couple of times.
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-12-07 20:14
We know that there is a big gap that has been created with all the stimulus money, and that's at some point going to have to be addressed. What measures in tax reform do you think could address that in an equitable way?
Kim Moody
View Kim Moody Profile
Kim Moody
2020-12-07 20:14
I'm sorry. When you say “gaps”, can you maybe enlighten me? What do you mean by that?
View Ted Falk Profile
CPC (MB)
View Ted Falk Profile
2020-12-07 20:14
Well, we've spent almost $400 billion more this year than what we're going to be taking in, so somewhere that $400 billion needs to be addressed. Either we need to work on some kind of repayment program or we need to get to the point where we're okay with paying interest on an extra $400 billion.
Kim Moody
View Kim Moody Profile
Kim Moody
2020-12-07 20:14
That's a good point. Thank you for clarifying that.
I think all measures should be on the table to look at, actually, including revenue raisers and targeted revenue raisers, but not without a complete review of how we currently tax and administer our system and what is taxed. I think austerity measures should also be on the table.
That's my personal view.
Mike McNaney
View Mike McNaney Profile
Mike McNaney
2020-12-03 16:57
Thank you, Mr. Chair, and I will get this in at four minutes and 45 seconds.
The National Airlines Council of Canada represents Canada's largest air carriers: Air Canada, Air Transat, Jazz Aviation, and WestJet. That represents approximately 90% of domestic capacity and about 60% of international capacity.
In 2019, our members carried over 80 million passengers to communities across the country and the world. They employed over 60,000 Canadians directly, and over the past decade they built a level of connectivity and service regionally, domestically and internationally that supported more than 630,000 jobs in the overall transport, tourism and aerospace economy.
However, as we are all brutally aware, none of these numbers reflect current reality. Today, tens of thousands of employees have lost their jobs, billions in dollars of aircraft are parked, 80% of capacity is shut down and passenger numbers have crumbled to 10% of typical levels, with no line of sight on when things may begin to recover.
However, the path to stabilizing the aviation sector is actually quite clear. It is clear because basically every other country in the world has already started down this path and did so months ago. Canada is indeed an outlier. There have been some measures instituted and others announced this week, but almost one year into the crisis—and my members started to be impacted in January—we are still talking about a process for establishing financial assistance.
Meanwhile, countries around the world have already provided $173 billion U.S. in support to their aviation sectors, precisely because of the critical role aviation must play in their respective economic recoveries. While this support has taken various forms, at its most basic it consists of financial measures to stabilize the industry, promotion of rapid testing within aviation and travel, and taking a science-based approach to quarantine in conjunction with testing.
Since the spring, we've been asking the government to provide low-interest loans and loan guarantees. We have also asked the government to address liquidity challenges within the broader sector, including airports and government service providers such as Nav Canada. As astounding as it may seem, in the midst of this pandemic and its incredible destruction of demand, airlines were hit with a 29.5% tax increase in September for air navigation services as Nav Canada tries to address its own financial shortfall, with the government refusing to provide assistance.
Though our requests for liquidity support have not been addressed, we have not stood still and simply waited for government action. Over the past few months, airports and Air Canada and WestJet have led the development and implementation of testing projects at Toronto Pearson airport, Calgary International Airport and Vancouver International Airport in order to provide government with further data to enable science-based decisions concerning quarantine. As members of the committee heard on Tuesday, federal departments are being fully engaged in these projects, and we are hopeful that the Calgary initiative in particular, given the extensive involvement of the Alberta government, will provide a model for implementation in other provinces.
As we continue our work to drive further action on testing and data-based decision-making and continue to implement the myriad of measures required by Transport Canada to protect passenger and employee health, which again members also heard about on Tuesday, we are very appreciative of the statements made recently by Dr. Tam that the risk of transmission of COVID-19 on aircraft is low.
However, while we try to move Canada down the clear path presented by other governments, the economic situation continues to deteriorate. Canada has now lost approximately 85% of its connectivity, with flights significantly reduced or service eliminated across every region in the country as carriers try to preserve liquidity and some semblance of operation.
My members have spent years and invested billions of dollars building regional and international networks to create the level of connectivity our economy enjoyed at the end of 2019 and the level of connectivity that will be required to ensure our overall economic recovery across every region of Canada, but that investment—and much more importantly, the tens of thousands of direct jobs it entails—is being systematically eroded. In addition, we have now begun to see foreign carriers that have received liquidity support from their governments taking international market share from Canadian operators. This is a direct threat to the future competitiveness of the sector and may roll back years of successful international expansion.
In closing, over the past several weeks we have seen heartfelt demonstrations by aviation workers who have lost their jobs, and appeals by aviation unions for government action. We have also seen the government statement concerning refunds as a condition for financial assistance, as well as statements by ministers that they realize the industry will not be able to move forward without government assistance.
The objective here is not just to have the sector survive; it's to have a competitive, thriving industry that drives jobs and investment and quality of life in every region of the country and in every community, large and small.
The overall path ahead is very difficult, but it is clear. The rest of the world is on it. We need to join them.
Thank you, Mr. Chair.
View Chris Bittle Profile
Lib. (ON)
I'd like to clarify something that you said. You talked about a tax increase with respect to Nav Canada. You agree with me that the government did not raise taxes and that Nav Canada is an independent agency.
Mike McNaney
View Mike McNaney Profile
Mike McNaney
2020-12-03 17:19
I would take a look at Nav Canada's press release from May. They did state in there that they had engaged the government to try to get support so that they would not have to follow through with the increase in navigational fees, and the government said no to that request.
View Chris Bittle Profile
Lib. (ON)
My question was about a tax increase. It's not a tax increase.
Results: 61 - 75 of 138 | Page: 5 of 10

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