Mr. Speaker, six months ago I asked the revenue minister to plug the tax loophole that allows businesses to deduct fines and penalties from their income tax as a business expense. Since when is breaking the law supposed to be tax deductible? The minister seemed to agree that it undermined the very purpose of a fine if they could use it as a tax write-off.
Again, why is she letting yet another tax year go by without making a simple amendment to the Income Tax Act, putting a stop to this outrageous practice of business fines as tax deductions?