Parliamentary Secretary McLeod delivers Budget 2013 speech

Budget 2013 proposes a number of measures to further strengthen CRA’s ability to address aggressive international tax planning

Ottawa – Cathy McLeod, Parliamentary Secretary to the Minister of National Revenue delivered her budget speech last week in the House of Commons addressing a number of key changes from combatting international tax evasion to reducing red tape.

“Our government is committed to maintaining the integrity of Canada’s tax system and protecting the country’s tax base,” said McLeod. “Since forming Government, we have recognized the importance of providing CRA with the necessary tools and resources to crack down on tax cheats.”

“When Canadians hide income and assets in foreign jurisdictions, they take valuable tax dollars away from health care, pensions, and other social programs. In other words, all Canadians suffer as a result of tax evasion,” stated McLeod.

Budget 2013 proposes a number of measures to further strengthen CRA’s ability to address aggressive international tax planning and to combat international tax evasion.

From changes to international electronic funds transfers, to a new initiative that encourage individuals to report information about international tax evasion and avoidance and, if eligible, receive a payment.

“Red tape is a silent killer of jobs and imposes a crippling cost on small businesses. It restricts innovation, productivity and competitiveness. It’s bad for business and it’s bad for Canada,” said McLeod. “Our government recognizes that improving existing electronic services, introducing new services and promoting sustainable development are essential to reducing the compliance burden so that small businesses can grow and succeed.”

In response to roundtables conducted last year by Minister Shea and Parliamentary Secretary McLeod, Budget 2013 introduces additional new measures in cutting red tape for business.  These include the option for business owners to choose to receive CRA correspondence exclusively online; as well as making the authorization process easier for businesses by providing more electronic options and speeding up the approval of paper requests.

 

“The opposition has stated on numerous occasions that they consider the fight against international tax evasion a priority. I trust that they will see the importance of the new measures and support Budget 2013,” concluded McLeod.