Canadian Tax Journal/Revue fiscale canadienne最新文献_第2页

The Pivotal Role of Capital Gains in Efficient and Progressive Tax Reform 资本利得在高效和累进税制改革中的关键作用

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2024-04-01 DOI: 10.32721/ctj.2024.72.1.kesselman

Jonathan R. Kesselman

{"title":"The Pivotal Role of Capital Gains in Efficient and Progressive Tax Reform","authors":"Jonathan R. Kesselman","doi":"10.32721/ctj.2024.72.1.kesselman","DOIUrl":"https://doi.org/10.32721/ctj.2024.72.1.kesselman","url":null,"abstract":"Increased, targeted taxation of capital gains is key to making the personal income tax more progressive, and it can also contribute to a more efficient system. This article assesses a two-tier capital gains tax that would apply a second, higher inclusion rate for gains above a specified threshold. Relative to a general increase in the inclusion rate—widely promoted by tax analysts—a two-tier scheme would focus on high-income, high-wealth taxpayers, forgo limited revenue, and be more publicly acceptable and politically viable. Relative to reforms to the alternative minimum tax (AMT), the two-tier scheme would be simpler, cover more taxpayers, capture more revenue, and conform more closely to the notion that \"the rich pay their fair share.\" The article explains how capital gains are an amalgam of capital and labour inputs, often containing supernormal returns that are an efficient target for increased taxation. The article further details the high concentration of recurrent large capital gains at top income levels and critically assesses arguments commonly made against raising the gains inclusion rate. It also identifies desirable companion measures for a two-tier gains tax—including restoration of income averaging and abolition of the federal 33 percent top tax bracket and the AMT itself. In short, the current 50 percent capital gains deduction serves as a gateway for endless tax-minimizing and economy-distorting stratagems. Closing that gate even partway for those most prone to enter into such planning would be pivotal in making Canada's tax system both more efficient and more progressive.","PeriodicalId":375948,"journal":{"name":"Canadian Tax Journal/Revue fiscale canadienne","volume":"347 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140780882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Canadian Tax Foundation Awards/Prix de la Fondation canadienne de fiscalité 加拿大税务基金会奖/加拿大税务基金会奖

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2024-04-01 DOI: 10.32721/ctj.2024.72.1.awards

引用次数: 0

Current Tax Reading 当前读税

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2024-04-01 DOI: 10.32721/ctj.2024.72.1.ctr

A. Macnaughton

引用次数: 0

Policy Forum: Transparency—An Essential Condition for Ethical Behaviour in Tax Planning 政策论坛：透明度--税收筹划中道德行为的必要条件

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2024-04-01 DOI: 10.32721/ctj.2024.72.1.pf.latulippe

Lyne Latulippe

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Planification fiscale personnelle : Les paramètres du nouveau compte d'épargne libre d'impôt pour l'achat d'une première propriété (CÉLIAPP) 个人税务筹划:首次购房新免税储蓄账户设置(celiapp)

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2023.71.2.pfp

Luc Godbout, Natalie Hotte

引用次数: 0

The Implications of Pillar Two for Corporate Tax Reform 第二支柱对公司税改革的影响

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2023.71.2.sym.boadway

Robin Boadway, J. Tremblay

{"title":"The Implications of Pillar Two for Corporate Tax Reform","authors":"Robin Boadway, J. Tremblay","doi":"10.32721/ctj.2023.71.2.sym.boadway","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.2.sym.boadway","url":null,"abstract":"Recent proposals for corporate tax reform in Canada call for changing the existing tax on shareholder income to a tax on rents or above-normal profits. A feasible option would be an allowance for corporate equity (ACE) system based on the territorial principle. Canada has agreed to the approach to international corporate tax reform developed by the Organisation for Economic Co-operation and Development, including the pillar two minimum tax proposal. We explore the compatibility of adopting pillar two with the ACE system. Several elements of pillar two would complement moving to an ACE system. Large multinational corporations would be liable for a top-up tax if their effective tax rates in any given jurisdiction fell below 15 percent. The effective tax rates and the top-up tax would both use the territorial approach and consolidated accounting. The top-up tax would be similar to a tax on excess profits. Pillar two might also mitigate tax competition and reduce the constraints that countries face in increasing their tax rates on excess profits. For these reasons, pillar two would facilitate moving to an ACE system. At the same time, the minimum tax would deter adoption of an ACE if the deduction for the cost of equity finance reduced the pillar two effective tax rate. On balance, pillar two would be compatible with proposed corporate tax reforms.","PeriodicalId":375948,"journal":{"name":"Canadian Tax Journal/Revue fiscale canadienne","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122199656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Finances of the Nation: Is the CWB Enhancement Achieving Its Dual Objective of Supporting Income and Incentivizing Work? The Effects for Couples in Ontario and Quebec 国家财政:中环湾仔绕道改善工程是否达到支持收入及激励工作的双重目标?对安大略省和魁北克省夫妇的影响

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2023.71.2.fon

L. Godbout, Suzie St-Cerny

引用次数: 0

International Tax Planning: Canada v. Alta Energy Luxembourg SARL—An Analysis Based on the Vienna Convention on the Law of Treaties 国际税收筹划:加拿大诉阿尔塔能源诉卢森堡萨尔——基于《维也纳条约法公约》的分析

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2023.71.2.itp

R. Danon

引用次数: 0

Strategic Narratives in International Tax Policy Making: BEPS Action 1 and the Stability Argument 国际税收政策制定中的战略叙事:BEPS行动1和稳定性论证

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2023.71.2.plekhanova

V. Plekhanova, C. Noonan

{"title":"Strategic Narratives in International Tax Policy Making: BEPS Action 1 and the Stability Argument","authors":"V. Plekhanova, C. Noonan","doi":"10.32721/ctj.2023.71.2.plekhanova","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.2.plekhanova","url":null,"abstract":"Drawing on narrative analysis developed by communications scholars, and applied by scholars of economics and international law and in policy analysis, this article studies action 1 of the Organisation for Economic Co-operation and Development's (OECD's) base erosion and profit shifting (BEPS) project as a policy narrative. The authors outline the role of narrative in international tax policy making and evaluate the probability and the argumentative and material coherence of the OECD's story about the need to ensure the stability of the international tax framework and system. Focusing on the narrative strategy adopted by the OECD to promote its pillar one proposal, the authors assess the likely persuasiveness of the OECD's stability argument—in particular, how it may have influenced the response to the proposal by the members of the Inclusive Framework on BEPS. The authors conclude that the OECD's concern about potentially destabilizing effects of digital services taxes and similar taxes on the international income tax system propagates a global fiscal illusion, and may not sustain long-term support for pillar one by many members of the Inclusive Framework.","PeriodicalId":375948,"journal":{"name":"Canadian Tax Journal/Revue fiscale canadienne","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121805607","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Current Tax Reading 当前税务阅读

Canadian Tax Journal/Revue fiscale canadienne Pub Date : 2023-07-01 DOI: 10.32721/ctj.2022.70.4.ctr

K. Brooks, M. Veall

引用次数: 0