Canada has reformed the Alternative Minimum Tax or AMT. The new tax measures are intended to ensure that the wealthiest Canadians pay their fare share. The government consulted on whether they should exempt Indigenous settlement trusts from the application of the AMT.
The FMB responded to Canada’s consultation. We said that not only should Indigenous settlement trusts be exempted from the new tax measures, but so should any trust that is established for the benefit of any Indigenous government, community, organization or individuals. We also feel the Government of Canada has not done a good enough job of consulting with Indigenous Peoples, and recommended ways for Canada to do better.
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