With the cost of living crisis putting the squeeze on Canadians, marginalized groups with fewer access to resources will be hit hardest. This includes women, Black, Indigenous, and racialized communities, (im)migrants and refugees, people living with disabilities, and members of the 2SLGBTQI+ community. Meanwhile, Canadian corporations are reaping record-level profits and avoiding tens of billions of dollars in taxes.
The government took some steps this year towards improving tax fairness, such as slightly increasing taxes for banks and insurers, and introducing a COVID windfall tax and a luxury goods tax on luxury cars, private jets, and yachts. But many feel these measures did not go far enough, contain significant gaps, and that eligibility thresholds are too high. Moreover, the government failed to take key actions to tackle extreme wealth inequality, like introducing a wealth tax, taxing excess corporate profits beyond the financial sector, closing tax loopholes, and cracking down on tax avoidance.
Feminist tax reform would involve a comprehensive overhaul of the Canadian tax system to curb growing inequality and generate more revenue for urgently-needed public services.
