New taxes on bank and insurance companies in Canada would raise CA$10.8 billion the next five years, according to documents released by Prime Minister Justin Trudeau’s Liberal Party.
The money includes CA$5.3 billion from higher income taxes on profits earned by large banks and insurers between this year and 2026, and another CA$5.5 billion from a temporary tax that the Liberals are calling the “Canada Recovery Dividend.” # SANDI HALPERN # TAX
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