The Canada Revenue Agency is writing off the money, but will not identify which individual or corporation owes it. The $133 million was owed on excise taxes or duties, which are collected on products including alcohol, tobacco, cannabis and fuel-inefficient vehicles. (CBC)
Talking point: This $133 million isn’t much in relative terms. It’s about two per cent of the $5.9 billion the government brought in from excise taxes and duties in 2017-2018 and about four per cent of the $2.7 billion in taxes owed the government wrote off over the same period. However, it is unusual to have a write-off of this size for a single taxpayer. Due to the size, it almost certainly has to be a corporation. One possibility is Chrysler, which received a US$1.1 billion loan from the government at around the same time the $133 million was written off.