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Tax group calls for windfall tax on companies that paid out dividends while receiving CEWS

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Canadians for Tax Fairness is calling for a windfall tax on companies that enjoyed booming profits while receiving pandemic aid. Read more

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The wage subsidy was introduced in April 2020 to help companies with significant revenue declines cover payroll costs and avoid laying off workers. The group said they also found that most of the companies that received wage subsidies actually reduced their overall employment in 2020 and almost half still had employment in 2021 that was lower than in 2019.found at least 68 publicly traded Canadian companies continued to pay out billions of dollars in dividends while receiving at least $1.03 billion of government assistance in the form of the Canada Emergency Wage Subsidy.

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That would be overruled as it wasn’t part of the requirements to claim CEWS. The governemnt should have done more diligence in their requirements before forking out the doh, but they didn’t. If they met the revenue drop criteria, then they can’t really blame them now.

Damn, they should have just layed off their workers instead Tricked into taking government money to save jobs when they did not need the employees, now having to pay it back out of their profits Never trust the government Never take a handout No such thing as a free lunch

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Tax group calls for windfall tax on companies that paid out dividends while receiving CEWSCanadians for Tax Fairness is calling for a windfall tax on companies that enjoyed booming profits while receiving pandemic aid. Read more How about foreign owned companies that took in CEWS while posting record revenue? I know of one. I'm as pro stocks, pro business and fiscally conservative as they come and I completely agree. They should pay the money back with interest and be publicly shamed.
Source: nationalpost - 🏆 10. / 80 Read more »

Tax group calls for windfall tax on companies that paid out dividends while receiving CEWSCanadians for Tax Fairness is calling for a windfall tax on companies that enjoyed booming profits while receiving pandemic aid. Read more
Source: financialpost - 🏆 7. / 85 Read more »