It would “be a good idea” for cabinet to calculate how much it costs to collect taxes before introducing any new tax, Budget Officer Yves Giroux said yesterday. His remarks followed data showing the paperwork on an equity tax targeting foreign property owners costs more than it raises in revenue.

“If the amounts assessed so far are indeed the final numbers or are indicative of what the government is expected to collect overall I think there will need to be a correction in the budget,” Giroux yesterday told the Commons government operations committee.

“Should the Canada Revenue Agency when implementing a new tax like this consider the cost of compliance on taxpayers?” asked Conservative MP Adam Chambers (Simcoe North, Ont.). “It certainly would be a good idea in terms of policy making for the Canada Revenue Agency to introduce that into the equation,” replied Giroux.

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