Canada’s 2018 version of the Income Tax Act contains 3,302 pages and 1,101,499 words.
One of the main sources of tax system complexity is the proliferation of credits, deductions and other special preferences.
With more tax credits, the government has to keep income tax rates higher to raise the same amount of revenue.
From 2001 to 2014, the sheer number of personal income tax expenditures has increased 24 per cent.
Between 1971 and 2014, the federal Income Tax Act’s text area increased by 355 per cent.
William Watson: It’s not just filing fatigue you’re feeling—Canada’s tax systems really are getting more complex
In the 12 years following 2001, there were almost two new tax expenditures per year.
Over the years, the federal government has shown a penchant for muddling the tax system with a myriad of tax credits, deductions, exemptions and exclusions. But tax expenditures—as they are collectively known—recently drew fire from Canada’s auditor general.
Filed your taxes yet? You’ve got until Thursday at midnight. After that, according to the federal government, you’re officially in arrears.