Mark Carney has helped Brookfield avoid $5.3 billion taxes since 2021 « Canada’s NDP

April 4, 2025 at 1:15 am  Federal, Politics

Canadians lost an estimated $5.3 billion to Brookfield Asset Management’s tax avoidance in the time Mark Carney was at the company.

Between 2021 and 2024, Brookfield’s annual reports show they made $23.3 billion USD in income. At Canada’s corporate tax rate of 26.4%, they should have paid $6.1 billion in taxes.

But they only paid $2 billion – leaving a tax gap of $4.1 billion USD or $5.3 billion CAD.

This is the same calculation method used by the Toronto Star and Canadians for Tax Fairness for their reports on corporate tax avoidance.

One major entity, Brookfield Asset Management Ltd, has paid no taxes at all for three years.

Two days ago, CTV reported that most of Brookfield’s core operations – associated with $50 billion of their business – were registered in a Bermuda building housing a bike shop.

And CBC has reported that two funds personally chaired by Mark Carney were registered in Bermuda. Carney acknowledged these funds were registered in Bermuda for tax reasons.

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