This year’s federal budget promised that Canada is “raising taxes on the wealthiest one per cent to cut taxes for the middle class.” It also introduced some luxury taxes and pointed to action on ‘shell companies’ that better off people can use to shelter money. Are such moves enough to collect more and make a fairer tax system? Or, is it, as some argue, time for a wealth tax in this country?
Joining Steve Paikin: Tyler Meredith (https://twitter.com/tylermeredith) , Co-Founder Meredith Bossenkool Policy Advisors (https://mbpolicy.com/)
Allison Christians (https://twitter.com/profchristians) , Professor of Tax Law at McGill University, Montreal and author of "Tax Cooperation in an Unjust World" (https://academic.oup.com/book/38872)
Graeme Moffat (https://graememoffat.com/about/) , Senior Fellow at the Munk School of Global Affairs and Public Policy at the University of Toronto
Birute Luksenaite, Lawyer and Principal at Portfolio Estate Law (https://portfoliolaw.ca/about-2/)
This episode of The Agenda (https://www.tvo.org/theagenda) hosted by Steve Paikin (https://twitter.com/spaikin) and was produced by Meredith Martin (https://twitter.com/meredithmartin)
00:00 Intro
01:19 Paul Kershaw clip
02:46 Does the tax system feel fair?
04:14 Do we need a wealth tax?
08:13 Rhetoric vs. reality
09:57 Inheritance tax
12:48 Capital gains on principal residence
14:58 Net wealth in housing in Canada graph
18:22 Means tested capital gains on a home
21:23 Can taxation on death be avoided?
23:50 Enforcing the tax code
24:46 Closing loopholes/estate freezes
26:35 Solutions
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