Carter, Kenneth LeM.
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A joint meeting of The Empire Club of Canada and The Canadian Club of Toronto.
Comments on the Report of the Royal Commission on Taxation, the speaker's involvement in that Report, and response to it. Some general comments on tax reform and the various approaches it can take, with example. Seven points set forth at the beginning of the Report, produced after listening to 220 submissions from across Canada. Some findings of the enquiry. Major tax reforms required, with a detailed discussion of each. Topics addressed include broadening the tax base; capital gains; rate of taxation of earnings; lowering tax rates; corporate taxes; foreign ownership; timing of reform; taxation of the family rather than the individual; taxation of estates; inheritance taxes; the equity objective; economic growth. Examples of taxation from other countries. More remarks about tax reform and the need for tax reform. The speaker's urging of people to read and understand the Report.