The royal commission on taxation you've been waiting for

The finance committee has released its report on its pre-budget consultations. Among the recommendations is a review of the tax system, including perhaps a royal commission.

That the federal government explore ways to simplify the Income Tax Act to reduce the complexity and inefficiency of its administration, including through the establishment of a royal commission to undertake a comprehensive review. Additionally, the government should ensure the timely assessment of income tax returns and explore the possibility of permitting consolidated reporting.

That the federal government undertake a comprehensive review of the tax system and ensure its fairness as well as neutrality by continuing to close tax loopholes that allow select taxpayers to avoid paying their fair share of tax.

Scott Clark and Peter DeVries have proposed tax reform in the past. Given the recent use of tax credits and the politics around the GST, a debate about the tax system could get interesting.

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