RRU in the media: Tracy Smith-Carrier on why GST holiday won’t cut it
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The federal government’s GST tax holiday is intended to make the holidays easier on lower income households, who are most impacted by the country’s ongoing affordability crisis. However, some experts say it’s not enough to help those who need it.
In a recent interview with the Times Colonist, Tracy Smith-Carrier, professor in Royal Roads University’s School of Humanitarian Studies, says permanent tax relief, rather than a tax holiday, would better help those in need.
“This two-month GST tax holiday is temporary. It’s small in value and it’s not focused on the people that need it most,” says Smith-Carrier.
Smith-Carrier, who is also Canada Research Chair for Advancing the UN Sustainable Development Goals, recommends measures that would benefit low-income Canadians in the long-term, such as bolstering disability and child benefits or providing a more permanent tax break, which could be offset by raising taxes on capital gains and corporations, including windfall taxes on “ultra-rich” corporations.