Thread by @timethief

@PierrePoilievre 🧵Let's unpack the misleading @PierrePoilievre meme ⬆️ by examining Liberal #Budget2023 tax provisions.
A re-elected Liberal government will: Raise #corporateincometaxes on the largest, most profitable banks and insurance companies who earn more than $1 billion per year and⬇️

@PierrePoilievre introduce a temporary #CanadaRecoveryDividend that these companies would pay in recognition of the fact they have recovered faster and stronger than many other industries.
Create a #minimumtaxrule so that everyone who earns enough to qualify for the top bracket pays at least ⬇️

@PierrePoilievre 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.
Note: A tax on luxury cars, boats, and planes came into force on September 1, 2022. ⬇️

@PierrePoilievre As per sections 9 and 34 of the #SelectLuxuryItemsTaxAct, subject vehicles valued over $100,000 will be taxed the lesser of:
1) 10% of the taxable amount of the vehicle, and
2) 20% of the amount above the price threshold. ⬇️

@PierrePoilievre Significantly increase the resources of the Canada Revenue Agency to combat #aggressivetaxplanning and #taxavoidance that allows the wealthiest to avoid paying the taxes they owe.

This will increase CRA’s resources by up to $1 billion per year to close Canada’s tax gap. ⬇️

@PierrePoilievre Modernize the general #antiavoidancerule 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 ⬇️

@PierrePoilievre tax planning that flows Canadian-derived profit through entities in low-tax jurisdictions in order to reduce taxes back in Canada. (offshore accounts). Work with our international partners to implement a #globalminimumtax so that the biggest companies in the world ⬇️

@PierrePoilievre are not able to escape the taxes they owe here in Canada.
Eliminate #flowthroughshares for oil, gas, and coal projects to help promote clean growth and Canada’s transition to a net-zero economy. ⬇️

@PierrePoilievre Implement a #nationalantiflippingtax and move forward with Canada’s first ever national tax on non-resident, non-Canadians on vacant land and residential property.⬇️

@PierrePoilievre Liberal Party of Canada policies are very specific unlike @PierrePoilievre 's memes.

@PierrePoilievre @threadreaderapp please unroll