

Policy Area
Priority Level
Last Updated
Tax
Immediate
May 19, 2024
The RPC will direct the Canada Revenue Agency (CRA) to focus their efforts on identifying people who hide vast wealth, rather than conducting random audits of ordinary Canadians.
There are two tax systems in Canada: one for workers (income tax) and one for business owners (capital gains tax).
Recent changes to the capital gains tax have renewed the neverending debate about the lack of taxation fairness. There are countless sources of research showing how the ultrawealthy exploit their exemptions and lower tax rates at the expense of underfunded social programs for workers.
Oxfam - https://views-voices.oxfam.org.uk/2023/01/how-super-rich-pay-lower-taxes-than-you/
The Economist - https://www.economist.com/graphic-detail/2017/06/01/a-new-study-shows-how-little-tax-the-super-rich-pay
Money is one of the most powerful tools humans have ever invented. Like many other tools, originally created for the betterment of society, money has been co-opted by a few ultrawealthy (sometimes referred to as Ultra High Net Worth Individuals (UHNWI)) members of society as a weapon they use to exert control of others.
Given that money is only a representation of value, not value itself, and that society frequently makes changes to our financial and economic systems - we need to reform our taxation system to ensure our money is only the means to our other desired ends, not an end unto itself.