About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

17 Tax Memo 1 (1958)

handle is hein.journals/taxmmo17 and id is 1 raw text is: TAX No. 17 MEMO June, 1958 BUSINESS VIEWS ON CORPORATION TAXES Report on Returns from a recent Foundation ques- tionnaire on the corporation income tax indicate that Canadian corporations favour a reduction in rates as the measure most likely to stimulate business. The question- naire was sent to some 400 of the Founda- tion's corporate subscribers and 189 replies were received, a very high proportion. Of those returning the questionnaire, 60 per cent favoured a rate reduction as the most efficacious tax device that could be intro- duced as a business stimulant under the corporation income tax. Replies to the questionnaire were received from companies representing every major area of Canadian business. From information supplied on profit ranges it is apparent that a good cross section of the views of the business community on the basis of size of operation as well as nature of business was obtained. In the questionnaire the Foundation set out nine possible changes in the corporation income tax and requested that the respon- dents indicate the priority they would give to each. In addition to a reduction in rates the following were proposed:- An increase Questionnaire in income subject to the reduced rate; higher depreciation rates; investment allowances; replacement value depreciation; tax holiday ; longer loss carry-over period; alternative systems of inventory valuation, and the right to carry over a loss between busi- nesses of a different character. Of the above items, investment allow- ances, higher depreciation rates, replace- ment depreciation and extension of the ceil- ing on the lower rate of tax were rated next in order of preference. The tax holiday proposal and the other three proposals received only scattered support (complete detail on the actual ratings is given in the following pages). The questionnaire also asked for propo- sals for other tax changes that would be regarded as of equal or greater importance, either under the corporation income tax or under other taxes. About 75 corporations availed themselves of this opportunity and their views are dealt with in this Memo. We wish to express our appreciation to the large number of our corporate sub- scribers whose co-operation made this sur- vey an outstanding success. Additional copies of this Memo may be obtained on request CANADIAN TAX FOUNDATION

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most