Corporate tax reform has long been a contentious issue in Canada. Official commissions, academics and others have often proposed changes in the way we tax corporations. During the last 30 years, perhaps largely owing to concerns about international competitiveness, the corporate tax rate has...

This paper derives estimates of the revenue costs of lifetime capital gains exemptions. Since the exemptions provided a significant stimulus to realizations of capital gains for both shares and real estate, previously published 'tax expenditure' estimates overstate the revenue cost of these...

Following the work of Ray Fair (1979), expectations terms in the FOCUS model are generated using predicted values from the model itself. Expectations are therefore "consistent" with the model struct ured. Government expenditure multipliers are compared for the standar d model and the CE version....