Bullboard - Stock Discussion Forum Sun Life Financial Inc T.SLF.PR.G

Primary Symbol: T.SLF Alternate Symbol(s): SLF | T.SLF.PR.C | SNLIF | T.SLF.PR.E | T.SLF.PR.D | SLFIF | SUNFF | T.SLF.PR.H | T.SLF.PR.J | SLFQF | T.SLF.PR.K

Financial Services Insurance - Diversified

Sun Life Financial Inc. is an international financial services company. The Company is engaged in providing asset management, wealth, insurance and health solutions to individual and institutional clients. The Company’s segments include Canada, United States (U.S.), Asset Management, Asia, and Corporate. These business segments operate in the financial services industry. The Asset Management... see more

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Sun Life Financial Inc > Raising Bank’s Tax from 15% to 18% for Earning More than $1B

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Post by ckwong on Aug 27, 2021 6:12am

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

Four out of five big banks (except National) were down yesterday even with good Q report, it is because Liberal vows to raise the corporate tax on the banks with more than $1B earning next year. Will Liberal do the same to all lifco?

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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