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Bank of Montreal T.BMO

Alternate Symbol(s):  BMO | T.BMO.PR.W | T.BMO.PR.Y | FNGO | T.BMO.PR.E | FNGD | FNGU | CARD | CARU | N.ZUEA | N.ZEBA | N.ZOCT | N.BGDV

Financial Services
Bank of Montreal (BMO) is a Canada-based company, which offers a wide range of personal banking services. The Company is engaged in providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to customers across Canada, the United States, and in select markets globally. The Company offers services, such as bank accounts, credit cards, mortgages, loans, investments, creditor insurance, and travel insurance. The Company’s segments include P&C, U.S. P&C, Total P&C, BMO Wealth Management, BMO Capital Markets, and Corporate Services. Its bank accounts include checking accounts, and savings accounts. Its credit card services include no fee, low interest, cash back, BMO Rewards, AIR MILES, travel, and lifestyle. Its credit cards include BMO eclipse Visa Infinite Card, BMO Ascend World Elite Mastercard, BMO eclipse Visa Infinite Privilege Card, BMO Preferred Rate Mastercard and BMO CashBack Mastercard.


TSX:BMO - Post by User

Bank of Montreal
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Post by ckwongon Aug 27, 2021 6:01am
449 Views
Post# 33774710

Raising Bank’s Tax from 15% to 18% for Earning More than $1B

Raising Bank’s Tax from 15% to 18% for Earning More than $1B
If you wander what drove the bank shares (except National) down yesterday, it is because Liberal vows to raise the corporate tax on the banks with more than $1B earning next year. The following is quoted from Reuters:
 
https://www.reuters.com/world/americas/canadas-ruling-liberals-vow-raise-taxes-profits-big-banks-insurers-2021-08-25/
 
The Liberals said they would hike the rate to 18% from 15% on all earnings over C$1 billion ($793 million) and vowed to establish a special dividend, so that those same institutions contribute more. The measures are expected to generate C$2.5 billion per year over four years, starting in 2022/23.
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