Wealthy Put Billions In Tax – Free Accounts, Gov’t Reports

Wealthier Canadians are depositing more than $5 billion a year in untaxed savings accounts under a Department of Finance program, records show. More than 1.1 million Canadians earning more than $100,000 a year take advantage of cabinet’s Tax-Free Savings Accounts scheme: “If you tax something less, government has to tax something more”.

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