Raise corporate income taxes on the largest, most profitable banks and insurance companies who earn more than $1 billion per year and introduce a temporary Canada Recovery Dividend that these companies would pay in recognition of the fact they have recovered faster and stronger than many other industries.

Create a minimum tax rule so that everyone who earns enough to qualify for the top bracket pays at least 15 % each year (the tax rate paid by people earning less than $49,000), removing their ability to artificially pay no tax through excessive use of deductions and credits.

Implement a tax on luxury cars, boats, and planes as outlined in Budget 2021.

Significantly increase the resources of the Canada Revenue Agency to combat aggressive tax planning and tax avoidance that allows the wealthiest to avoid paying the taxes they owe. This will increase CRA’s resources by up to $1 billion per year in order to close Canada’s tax gap.

Modernize the general anti-avoidance rule regime in order to focus on economic substance and restrict the ability of federally regulated entities, including financial institutions such as banks and insurance companies, to use tiered structures as a form of corporate tax planning that flows Canadian-derived profit through entities in low-tax jurisdictions in order to reduce taxes back in Canada.

Work with our international partners to implement a global minimum tax so that the biggest companies in the world are not able to escape the taxes they owe here in Canada.

Eliminate flow through shares for oil, gas, and coal projects to help promote clean growth and Canada’s transition to a net-zero economy.

Implement a national anti-flipping tax and move forward with Canada’s first ever national tax on non-resident, non-Canadians on vacant land and residential property.

Move forward with a national tax on vaping products and require tobacco manufacturers to pay for the cost of federal public health investments in tobacco control.

— Forward. For Everyone., retrieved 2021-09-02

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• Make the Taxpayer Ombudsman an officer of Parliament with order-making authority;

• Measure and report on the tax gap, in detail, by type of taxation and reason for the shortfall (similar to the UK model) so that CRA resources can be allocated where the problems exist;

• Impose a duty of care (a legal obligation to a reasonable standard) on CRA;

• Launch a comprehensive review of Canada’s tax system to improve competitiveness, bring down rates and simplify the rules;

• Revise CRA’s penalties so that first-time problems or errors receive only minor fines, with increasing severity for repeat offenders;

• Create a “welcome to CRA” program and materials for new small businesses; and

• Allow businesses with less than $60,000 in revenues to use simple cash accounting.

— Canada's Recovery Plan, retrieved 2021-08-18

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We’ll protect family budgets, and force big corporations and big polluters to start paying what they owe. And we will raise revenues through new, fair and progressive taxation sources to make the investments Canadians need to thrive.

No one should be profiteering during a global health crisis when so many Canadians are suffering and need help more than ever. New Democrats will introduce a temporary COVID-19 excess profit tax that puts an additional 15% tax on large corporate windfall profits during the pandemic. We will go after large corporations that took publicly-funded COVID-19 wage subsidies and turned around and paid out executive bonuses, executed stock buy-backs or paid shareholder dividends.

To make our tax system fairer and ensure that the wealthiest individuals are paying their fair share, we will increase the capital gains inclusion rate to 75 percent. A New Democrat government will also boost the top marginal tax rate two points, put in place a luxury goods tax on things like yachts and private jets, and ask the very richest multi-millionaires to pay a bit more towards our shared services with a wealth tax.

A New Democrat government will ensure that large, profitable corporations are contributing to the important services and infrastructure that make Canada such a good place to do business. We will roll back the Conservatives’ corporate income tax cuts by three percentage points to 2010 levels. We will also ensure that internet giants like Facebook, Google and Amazon pay their fair share of taxes, just like every other company – unlike the Liberals, who broke their campaign promise to make these companies play by the rules.

— Ready for Better, retrieved 2021-08-27

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