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iPolitics By Jolson Lim. Published on Mar 11, 2021 6:01am Toronto s financial district in March 2020. A wealth tax could inject more into federal coffers than previously estimated, according to a new analysis. (Rene Johnston/Toronto Star)
That’s nearly double the $5.6 billion the parliamentary budget officer (PBO) estimated last July.
CCPA’s analysis, published Thursday, estimates that by applying a one per cent wealth tax to anyone’s net worth that’s in excess of $20 million and by applying a two per cent tax to $50 million and three per cent to $100 million Ottawa would net nearly $20 billion in the first year of the tax’s implementation.