The Canada Revenue Agency is underestimating the value of unpaid tax by billions, advocates last night told the Senate national finance committee. Tax owed on unreported income by Canadians with offshore accounts is more than triple the $3 billion claimed by auditors, senators were told: “It’s more like $10 billion to $15 billion.”
Finance Minister Bill Morneau yesterday told the Senate banking committee first-ever federal rules on bitcoin will soon be introduced, but that most regulation of the pseudo-currency will be left to provinces. “The market remains relatively small,” said Morneau.
A professional ethics review of an Ontario judge is unreasonable and unfair, says a lawyer in the case. Justice Patrick Smith in a federal lawsuit accuses the Canadian Judicial Council of targeting him for investigation over Indigenous complaints to the CBC: “I do fault the Council.”
Canadians are divided on cabinet’s climate change program, says in-house research by the Department of Natural Resources. Polling shows as many people worry about energy affordability as reducing greenhouse gas emissions: ‘Which do you think should most guide decisions about Canada’s energy future?’
The Bank of Canada in an unusual stopwatch survey calculated to the second how long it takes consumers to pay with cash or cards. Researchers accounted for time spent by check-out clerks in taking phone calls or chatting with co-workers: ‘Waiting time included social interactions, price checking and so on.”
The Canada Revenue Agency says it only “feels” like auditors target small taxpayers over multinational corporations. An assistant commissioner yesterday told the Senate national finance committee that curbing offshore tax avoidance is a priority: “Canadians don’t necessarily appreciate that.”
Cabinet should order a public inquiry for final answers in the $1.2 billion Phoenix Pay System failure, the Commons finance committee was told yesterday. “Why did no senior bureaucrat say no?” asked an executive with the Public Service Alliance of Canada.
The Department of Immigration issued work permits to more than 17,000 illegal immigrants in the past year, according to records. Officials said most were fit to work while their claims for asylum in Canada were processed: “I just think that’s wrong.”
The Department of Finance since 2012 has spent an average of nearly $10 million a year writing, publishing and promoting its annual budget, according to Access To Information records. Expenses run from staff overtime to polling: “In the past, budget covers have looked staged and emotionless.”
The disastrous mountain pine beetle is here to stay, officials yesterday told the Commons natural resources committee. The Department of Natural Resources has spent more than $3 billion since 2014 attempting to stem the spread of the tree-killing insect: “It’s just gotten bigger and bigger.”
The Department of Finance in an Access To Information memo estimates Airbnb accounts for 10 percent of hotel room sales in two Canadian cities. Hoteliers have appealed for tax audits on condominium and apartment dwellers with Airbnb listings: “There is a strong financial incentive for property owners.”
The Commons yesterday voted for committee hearings on a bill to declare another federal holiday, this one to honour Indigenous people. The bill’s New Democrat sponsor said the observance should not become “another day off work.”
Documents in Tax Court indicate a company was given more than $520,000 in green-tech funding though it repeatedly failed to file its taxes on time, and had not met all requirements of its contract with a federal agency. Sustainable Development Technology Canada yesterday did not comment: ‘They issued a cheque.’
Broadcasters yesterday appealed to the Commons industry committee to leave in place a 1997 provision of the Copyright Act that sees most radio stations pay $100 a year for playing Canadian music. MPs expressed incredulity: “$100 whether then or now is not a lot of money.”
Cabinet has again delayed reforms to its $98.7 million-a year subsidy for Arctic grocers. Changes to the Nutrition North program had been promised by year’s end: “There’s an abysmal lack of action around the issue of Nutrition North.”
