Mr. Speaker, the Liberal government is undertaking a major tax grab by reassessing thousands of Canadians in the oil patch who were past recipients of the overseas employment tax credit.
Revenue Canada claims that these people were not entitled to the credits so "pay up". Why did it wait for three years? Is it that hard to trace Canadian based subsidiaries? Now it is a hardship on these taxpayers. Cannot the department handle the complexities of its own tax act? Another argument for a simplified tax system.
Let us not complain. In a way, the government may be doing us a favour. It is saying that if an individual has obtained moneys from the taxpayers improperly then the money must be paid back with interest and penalties.
The MPs gold plated pension plan has been improper since the 1970s when its provisions began to exceed those permitted in the private sector. I hope the Liberals and their friends will not scream too loud if the tax man finds a loophole and comes after their fat pensions in a few years retroactively.