‘Devil in the details’: Senators urge government to axe tax act changes
Source: Senate of Canada
December 13, 2017
Ottawa – The federal government should scrap or at least delay plans to amend the Income Tax Act as the proposals risk harming the Canadians these changes are meant to help, the Senate Committee on National Finance said in a report released Wednesday.
The committee’s report is the product of extensive study and cross-Canada consultations with the people who have the most to lose under the proposed changes. This work took place with the endorsement of the federal finance minister.
The majority of senators on the committee believe cancellation is the most prudent course of action. However, committee Deputy Chair Senator André Pratte and Senator Éric Forest disagreed.
- Senators held 30 public meetings across Canada during the committee’s study and heard from 138 witnesses. The committee also received 32 written briefs.
- Witnesses came from many sectors including financial services, healthcare, agriculture, academia, government, small business and labour groups.
- The federal government has yet to reveal crucial details of some aspects of its planned reforms; some proposed rules have only been outlined in press releases. As one witness noted, the devil is in the details.