Put your trust in taxes during the coronavirus pandemic recovery

Facing an unprecedented global crisis, it’s natural to turn to taxes for comfort. As strange or unwanted a claim as this seems, our tax system reflects our societal wants and needs, and the behaviours we wish to encourage or discourage.

Governments amend taxes for good times and bad, and this coronavirus crisis is no different.

The Canadian federal government’s COVID-19 Economic Response Plan includes tax-related measures. Although these measures may update, let’s examine the tax supports for individuals and how these measures could benefit society — by considering the past, present and future.