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House Hansard - 99

44th Parl. 1st Sess.
September 21, 2022 02:00PM
Context: House Hansard - 99 - Sep/21/22
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Sep/21/22 2:32:24 p.m.
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Mr. Speaker, as Canadians know very well, our government is deeply committed to ensuring that everyone in Canada pays their fair share. We are permanently raising the corporate income tax by 1.5% on Canada's largest, most profitable banks and insurance companies, and we have introduced a recovery dividend of 15% on the excess profits of these institutions during the COVID pandemic. We also implemented, effective September 1, a 10% luxury tax on private jets and luxury cars worth more than $100,000, and boats and yachts worth more than $250,000.
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