Prior to 1972, Canadian credit unions were exempt from all income and capital taxes. In many countries, including the United States, they remain tax exempt at both the state and federal levels. The justification is their non-profit nature.
In 1972, credit unions were brought into the tax syatem, paying the small business rate. The federal . . . → Read More: Bill Longstaff: Raising taxes on credit unions is a retrograde step
RBC replaces Canadian staff with foreign workers Axed employee blows whistle; federal government investigating By Kathy Tomlinson, CBC News Posted: Apr 6, 2013 5:31 PM PT
This is going to sound like an unpaid ode to Credit Unions, so be it…in this case, because I know it best, VanCity…not only are Credit Unions competitive with . . . → Read More: Left Over: Banks? Fuggetaboutit………
This and that for your Thursday reading.
– John Greenwood and CBC News both report on the offshore tax avoidance being revealed through the International Consortium of Investigative Journalists. And Susan Lunn observes that Canada’s federal parties are all at least paying lip service to the issue – though of course the Cons’ cuts to . . . → Read More: Accidental Deliberations: Thursday Morning Links