Crack Down on Tax Cheats
While Canadians struggle to make ends meet, Carney stashed his Brookfield funds above a bike shop in Bermuda—one of the world’s most notorious tax havens. According to KPMG, Bermuda has no capital gains tax, dividend tax, or withholding tax, making it one of the most attractive tax havens for the global rich like Carney who want to avoid the taxes they impose on the rest of us.
While Carney advised Trudeau to hike taxes on working Canadians, he made sure his company’s profits stayed offshore, beyond the reach of the CRA. These were calculated decisions to dodge Canadian taxes while the Trudeau government squeezed small businesses and middle-class families to pay for their skyrocketing spending.
Conservatives will end Carney’s two-tier tax system, where elites get loopholes and working people get audited.
- Close Carney’s offshore tax loopholes. Poilievre has already announced that he will appoint a Bring It Home Tax Task Force to make tax rules fairer, simpler and easier to administer. The same task force will also ensure that we close all the loopholes that allow companies like Brookfield to stash their money in offshore tax havens to avoid paying their fair share here in Canada.
- Redirect CRA resources away from auditing and harassing small business owners and charities towards cracking down on offshore tax havens — collecting at least $1 billion more every year from those who try to hide their wealth overseas.
- Create a name-and-shame website to expose all the wealthy multinational corporations that are dodging taxes and refusing to pay their fair share.
- Expand the Offshore Tax Informant Program, giving whistleblowers up to 20% of recovered funds when they help expose illegal tax schemes.