Cabinet Plan Is “Regressive”, Mainly Helps Wealthy: Study

A Department of Finance scheme permitting tax-free investment income is inherently “regressive” and mainly helps wealthy Canadians at other taxpayers’ expense, says the Parliamentary Budget Office. Researchers faulted Tax-Free Savings Accounts, introduced in 2009, as a multi-million dollar subsidy for individuals with money: “It’s unfair and it’s unaffordable”.

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