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13 questions to ask for a complete and proper overhaul of Canada’s tax system

It’s time for a comprehensive tax review, not just one to look good. Adam Smith, the Scottish economist and philosopher, laid out his thoughts on what the four basic tenets of a good taxation system are in The Wealth of Nations, his 1776 landmark writing, as follows:

  1. Equity: the taxation of persons should be proportional to their ability to pay;
  2. Certainty: the system should be clear and transparent;
  3. Convenience: the timing and system of payment should be convenient for taxpayers;
  4. Economy: the costs to administer and collect taxes should be minimized.

Read the full Financial Post article here.