Budget lowballs corporate tax revenue, overdoes contingency funding
A Budget 2022 proposal means life insurers could have to pay tax up front on profit earned on 20-year policies, says CLHIA
Higher taxes offset benefit of efforts to cool housing market
But with no adjustment to the passive income rules, some companies will remain shut out
Financial institutions will also have to pay a one-time Canada Recovery Dividend on 2021 taxable income over $1B
The deal aims to make sweeping changes to how big multinational companies are taxed, deterring profit stashing
The plan involves raising taxes on corporations and the wealthy, using the funds to expand government programs
Analysts say companies would find ways to mitigate the effects
Clients' concerns range from broad social and fiscal spending to potential tax changes
Advisors will be watching for taxes targeting high earners, capital gains and wealth inequality