Feds score big with extra funding of CRA's business compliance programs
The federal government has generated nearly six dollars in “fiscal impact” for every additional dollar of funding provided to the Canada Revenue Agency’s business compliance programs since 2015-16, according to a report released on Thursday by the Parliamentary Budget Office.
Dating back to Budget 2015, Ottawa allocated close to $1.9 billion in additional funding to the CRA over fiscal years 2015-16 to 2023-24, with the goal of supporting the agency’s tax compliance efforts. The government has said it expects to raise $13 billion in additional revenue over the period, which represents a return of about $6.84 for every dollar of additional funding.
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Rudy Mezzetta
Original Article Posted on: October 9, 2020