Time to get serious about tax simplification
CIM Bulletin, Vol. 75, No. 848, 1982
ROBERTS. PARSONS, Partner Price Waterhouse, Toronto
Thrashing one's way through a jungle of entangled tax rules is no easy task today, as Canada's legislators continue to complicate this country's income tax laws. A t some magical point, there is presumably some balance to be struck between legislation which is equitable and unambiguous on theonehand, and at the same time is efficiently complied with and administered. It is becoming increasingly clear that the legislation is not in balance, and that there is a pressing need for some simplification of the income tax rules and regulations— especially in areas of critical importance to the resource industries—even though such simplification will likely involve some sacrifice of equity and certainty.