05:58:24 EDT Sat 18 May 2024
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or Name
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Meta CDR (CAD Hedged)
Symbol META
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Close 2024-01-04 C$ 19.57
Market Cap C$ 110,570,500
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Post says hard-hit Amazon gets support from anti-taxers

2024-01-04 07:17 ET - In the News

See In the News (C-AMZN) Amazon.com CDRs (CAD Hedged)

The Financial Post reports in its Thursday edition that nearly every Canadian will pay higher federal income taxes in 2024, according to the Canadian Taxpayers Federation (CTF). The unbylined item says the federally incorporated lobby group that is generally hostile to the Liberal government released its annual report on Tuesday highlighting the varied tax changes across Canada. This includes federal tax increases like the rising payroll, alcohol and carbon taxes, as well as a second Canada Pension Plan tax and increases in maximum pensionable and insurable earnings. Some of the changes are part of a broader strategy to strengthen retirement support for Canadians and will benefit younger workers the most. Introduced last November, Canada's new Digital Services Tax (DST) is aimed at Big Tech, such as Google and Facebook. A previous Parliamentary Budget Officer estimate found that DST will cost taxpayers $1.2-billion in 2024, but that revenue estimate depends on when the tax is implemented. Consumers should also expect to pay higher prices because of DST, if recent history repeats. When France introduced a 3-per-cent DST in 2019, Amazon raised seller fees for small and medium-sized businesses in France by the same figure.

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